Recently I had the chance to play a bit with the new Sensor FW API, made publicly available few weeks ago. It's no secret that such functionality will certainly bring new possibilities and offers to the s60 ecosystem. One such example is mixing the live video stream from your camera with tags (provided by the user or some other external resource), thus providing extended information to the physical world.
Of course the field of augmented/mixed reality is not new, but current devices are starting to make this reasonable, with no need of backpacks head-mounted displays or add-on gadgets (though walking around while facing your screen might look a bit weird as well)
viaDavid Caabeiro’s Forum Nokia Blog | ARound: LBS + sensors.