According to Telgraph.co.uk:
A team of Japanese scientists have created a device that enables the processing and imaging of thoughts and dreams as experienced in the brain to appear on a computer screen.
While researchers have so far only created technology that can reproduce simple images from the brain, the discovery paves the way for the ability to unlock people's dreams and other brain processes.
We just took one step closer to telepathic communications, which would make this at least one half of this VoIP & Gadgets blog moot. After all, who needs Voice over IP communications when you can just "think" your thoughts and people can hear/see them? May as well ditch the iPhone as well. Who needs a mobile phone when you can communicate telepathically?
As a matter of fact, once they perfect this thing, maybe you can loop back the playback into your brain's auditory and visual cortex centers so you can go back and watch your favorite movie in the theater or hear your favorite concert. Who needs an iPod mp3 gadget when you can simply playback past memories? Ok, the device is passive and only records what your brain is thinking - it cannot send input to the brain to tell it to playback a memory.
We're getting close though my friends.