Nice idea, would it be possible to do some OCR at the end?
Input image - http://i.imgur.com/6o5FwxG.jpg
Output image - http://i.imgur.com/7OIOxfO.png
I tried to use vanilla Tesseract on it, but I had no luck getting anything usable out of it.
Some commercial OCR engines such as Nuance Capture SDK have built in functionality for this.