http://www.joyent.com/blog/introducing-kartlytics-mario-kart-64-analytics Studying Mario Kart performance over time with video analytics software.
Valve has released the tool used to make its animated skits. It's already been put to good use to make the impressive Falcon punch video and a parody of Kayne West's music video for his song Power. I expect some great, high-quality videos to be made by hobbyists with this tool over the next year.
http://www.therwp.com/forums/showthread.php?t=48139 There's a hidden ZX Spectrum emulator in the GoldenEye 64 release carts.
http://byuu.org/articles/emulation/snes-coprocessors All of the coprocessors released with SNES games have been reverse engineered.