"Brainstorm Technology LLC is the developer of PhotoSketch, a Google SketchUp plugin that enables the user to build 3D urban structures directly from photographs. Architects, designers, and entertainment content creators can now employ a new approach to create lightweight 3D models of existing buildings. These models, which typically consist of a few hundred phototextured polygons, are well-suited for use in online gaming and web-based applications such as Google Earth and Microsoft Virtual Earth."
PhotoSketch looks similar to the built-in Photomatch feature of SketchUp, only with many more features.
They have started posting videos to youtube which usually means a release is coming soon.
Brainstorm Technology Home Page:
Look like this has been an on going project since before 2007: see the presentation at google (http://video.google.com/videoplay?docid=-4452669873579375047)
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