Whoa. Have you guys heard of this or tried it? Sick. Technology is getting crazy...
It uses your iPhone's camera to find words in real life -- on signs, buildings, etc. -- and then translates them on-the-fly. And it looks pretty amazing.
The app is free, and includes a built-in demo filter that rewrites words backwards. For now, you can buy Spanish-to-English and English-to-Spanish translation dictionaries for $5 each, using Apple's in-app purchasing system.