From Crunchgear:

Using Photographs to Enhance Videos of a Static Scene from pro on Vimeo.
This system, by students at the University of Washington, uses still photographs or one single frame of a video scene to automatically improve video. The improvements are amazing. Video might contain artifacts like overexposure and low-resolution imagery and this system takes cues from still images of the scene to bring almost the entire video up to photographic quality. Can???t wait for this to hit our local point and shoot – in maybe five years.