I'm somewhat more impressed by this water screen than the iphone's retina display.
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Water screens are very simple (and old) tech. It's just a perforated tube and a projector. This is much more interesting: http://www.youtube.com/watch?v=gusJeslMbLc, but still a weekend project, not billion-dollar research :)
There was the bit.fall project (ca. 2005)
http://www.youtube.com/watch?v=AICq53U3dl8 by Julius Popp
and before that Stephen Pevnick's Graphical Waterfalls® (1977) http://www.pevnickdesign.com/gwhtml/history.html