http://www.engadget.com/2010/12/17/w...s-whatever-yo/
For those who don't want to read the article, it's an iPod app that uses augmented reality to translate signs and update the text on them (as seen on a video feed) in real-time using the iPod/iPhone camera.
That is incredibly cool, the speed of the OCR is very impressive too. While the word matching is simply dictionary based - so the grammar is atrocious - it's all done offline and in real-time and looks great for checking out signs if you're abroad. What's more, it's not some master thesis concept that will never see the light of day, you can actually buy this on the App store for a few dollars.
Bring it to Android!