A recently released paper demonstrates a stunning technique: color from black and white with a few scribbles!
This is really nifty stuff and makes me wonder how long it will take before:
# This shows up in a Gimp plugin
# Ted Turner gets his hands on this and start releasing new colorized movies
# Someone makes an all-color version of Young Frankenstein and releases it (or at least some clips) on the ‘Net
# The site gets noticed and the person behind the site realizes that PNGs would have been a much better choice than BMPs to post on their website — JPEGs at a high enough quality setting should have also been acceptable
I can see additional uses for this sort of technique too: Intelligent masking and an improved selection wand are two things (pertaining to image editing) which immediately come to mind.