jmmgarza: This camera may be all talk and no sales.
My sister is a personal friend of Eric Chang (the director of photography--they went to Stanford together). It's very real.
Of course, you probably won't believe me.
love_them_all: If you have read the article from the link above, you'll find out it is not about taking one sharp image and then blur out different section in post. The camera has micro lenses to "de-focus" light and then redirect them on different pixels. In plain english, one point of light is being spilt into several pixels, each have a different "focus" point. This explains the low res because one pixel of info now uses several pixels. The software will assemble the final image using selective pixels.This effect however can be simulated with a conventional camera, taking a few frames of the same image with different focus points. Then layer them together to give the change in focus effect. Of course, the draw back is when the objects in the frame are moving. Say a 1000fps+ camera and some post software is needed to freeze the frames as close to one as possible.
@robogobo: It is pretty magical--this was the topic of a Physics PhD dissertation. I'm not surprised you don't understand exactly how it works.
And a "mega-ray" is exactly what it sounds like: one million rays.