Vernor Vinge's upcoming novel, Rainbow's End, features an immersive augmented-reality environment much like Niven & Pournelle's Dream Park (this short story, Synthetic Serendipity, is an adaptation from the novel for IEEE Spectrum). That's nothing new.
What is new is that it's being implemented for real, today, at the University of South Australia in Adelaide. Granted, it's only in its early stages right now... but there's folks wandering around the campus with backpack computers, haptic guns, and head-mounted displays playing what they call ARQuake -- Augmented Reality Quake.
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I found lasertag and paintball boring as hell. This would rock.