This is the coolest application I've ever seen. It does text recognition of the movie feed coming from the iPhone, then translates the text to another language on the fly (currently, Spanish to English and vice-versa) and renders the translated version on the movie itself, with proper coloring. The effect is so beautiful to be basically magical

... but it's not. It's technology, and as Arthur Clarke once said, any sufficiently advanced technology is indistinguishable from magic.