Microsoft Research has been working on “IllumiRoom”, a system to project media across the room, giving an immersive virtual reality experience. It is something that takes 3D movies to a whole new scale.
http://research.microsoft.com/en-us/projects/illumiroom/
Recently, a similar idea called “Immersis” raised over 100K USD on Kickstarter.
It will be interesting to see who hits it first and whether this becomes a viable form in the consumer entertainment space.