A group of Swedish researchers from Linköping University have developed a method in collaboration with SpheronVR for capturing, reconstructing, modeling and rendering real world scenes based on high dynamic range video. The reconstructed scene representation allows for photorealistic Image Based Lighting (IBL) in complex environments with strong spatial variations in the illumination. They have posted a teaser on Vimeo and will be giving a talk on the subject at SIGGRAPH. More info at the project’s website, other sample videos can be found at Jonas Unger’s Vimeo channel.