Yeah! There was a recent press release from Nokia about their prototype service where you can take a picture of a poster, and it recognises the event and finds the details for you, and local showings if it's a film, etc. There's a recent video link on HN of an android/G1 app which pulls location-aware data from the web and allows you to hold your G1 up with the camera looking at the horizon, and it annotates the video feed with information about the main things you can see. Shazzam has been able to recognise currently playing music for ages, and snaptell can recognise a photo of almost any common CD, book or DVD and pull up more data. Android/the G1 has a change-behaviour-based-on-GPS-location feature.

Augmented reality is here if you look for it and want it.

I hope it's not too long before I can take a picture of a sign in a foreign country, and have it OCR'd and the text run through Google Translate.