Scrambled Hacks is a fascinating project which is very exciting for music samplers. Scrambled Hacks takes sounds, say from a microphone, and searches through a music video in order to find sounds that are similar. The program will then reconstruct the music video and imitate the sounds it just heard.
In other words, this program will create a visual and audio representation of any sound it hears, and all of this can be done in real time.
It's a little hard to imagine, so check out this video which describes and demonstrates how this works. I'd love to get my hands on something like that! Then again, as a computer science student, I would love to be able to work on a project like that.
Update: Since I don't trust Youtube to maintain a link for very long, I'm adding a mirror link to Milk and Cookies just in case.
Link (via Waxy)