There's also more important applications for this, for example detecting common postures and grips on fallen asleep drivers or knives that know when their not being handled properly. Additionally a world of possibilities opens up for the blind and disabled if you can inform them of objects they are touching in a room. I find these applications (and surely many more I am not enumerating) much more appealing then controlling a phone, but alas, that's what sells.

Lets hope the eye-candy stuff propels the technology so that the really useful stuff can be built at a lower price.