Kinect has been used for a whole lot more than just gaming, from turning you into a Jedi to engaging in virtual sex games (hehe). But Oliver Kreylos, a teacher at The Department of Computer Science, University of California has hacked the Kinect into something awesome.
According to his website, the aim was to convert the Kinect into a 3D camera by combining the depth and color image streams received from the device and projecting them back out into 3D space in such a way that real 3D objects inside the cameras' fields of view are recreated virtually, at their proper sizes.
Kreylos also explains how the Kinect differs from other so called 3D cameras and they way it provides the missing bit of information necessary for 3D reconstruction. For more information, you can visit the website here.