Awesome, so if I'm understanding correctly it's analogous to, but better than, the lens modeling that a panorama stitcher will use, and its applications are as

Awesome, so if I'm understanding correctly it's analogous to, but better than, the lens modeling that a panorama stitcher will use, and its applications are as the calibration stage of an image stitching, 3D vision, object tracking, SLAM, structure from motion, and/or image-based measurement system? I've been fascinated by these things since high school and as a teenager tried to make my own object tracking system for special effects for a student film (and obviously failed), but apart from running a Kinect-based home/art/museum automation startup for a while, my life path did not lead me into computer vision.