Meet the Exoception: a projected reality system that allows you to capture an event and explore it freely using your Oculus Rift. Think about the possibilities here. For instance, you can record a special moment and dive back to it at a later date to feel as though you were experiencing all over again. The developers are using depth capable cameras like Kinect to recreate 3D spaces.
As you can see, this project is still a work in progress but quite exciting already. Just imagine how fun it will be to relive past events in a few years when Exoception is more polished. You can find out more about this project here.