Next Gen 3d Photo Worlds from Microsoft

This looks like a killer next gen photo app from Microsoft:

http://labs.live.com/photosynth/default.html

It was a hit at the recent web 2.0 conference.

Check out the video:

http://labs.live.com/photosynth/videodemo.html

Click the 'try it' link for a demo in IE 6 or 7.