The following is a tutorial on how to build your own cheap, portable and hood-style bullet time camera rig on the cheap and the fly. This rig was designed by the Graffiti Research Lab and director Dan the Man to use in a hip-hop music video for underground rappers Styles P, AZ and the legendary Large Professor (spinning below). Just another chapter in the GRL's continuing mission to make open source the sixth element of hip-hop.
via - www.instructables.com
Here is a picture of the affect by itself.
To sum up this entire post technology like this is in many ways destined to be the fate of video