So I am playing with Windows Azure and I happen to have the US Election Show on CNN.
I have actually watched a bit of TV history.
They projected a 3D Hologram into the studio, which is then transmitted on air.
I believe they used HD cameras all around the lady filming every angle. This is then projected back to the studio. The main cameras are synchronized with the remote cameras, so you can see the correct angles of the lady (as if she was really there)
So the on air presenter was having a conversation with the lady in the other studio, as if they were in person, very cool stuff.
It looks very cool, I can see this technology getting much better and used so much more in the future.
I definitely think once this sort of technology gets cheaper it will pave the way forward for video conferencing, expect to see these sort of tricks in UK television soon.