Accomplishing this level of real time augmented reality is transformational. See video for presentation.
“… if a device, like the Tegra-2 and Android-powered Samsung smartphone used in this demo, has stored in it a complete three-dimensional representation of a given physical environment, it can simply analyze the scene visually and map augmented reality on top of it using that information. In this way, GPS and orientation sensors are used solely to narrow down the number of different scenes the device has to search in its map of a given city.This, in short, is what real augmented reality looks like. And when it arrives — in conjunction with displays that fit into eyeglasses, which need to improve significantly before they can be used for this application — it will transform our lives as much as PCs and smartphones have, if not more. ”