Although it is seemingly unrelated anime news, there is one key bit:
QUOTE
Yahoo! Japan says that it will release the free augmented-reality app "soon," and the app will display the virtual Zaku II from 10:00 a.m. to 8:00 p.m every day until September 30. The "life-size" Zaku II will only appear if the camera on the iPhone 3GS or 4 with the app is pointed at a spot next to the Gundam statue. (The app uses the newer iPhone models' magnetic compass sensor and assisted GPS system to pinpoint its direction and location.) The app can also display a smaller virtual Zaku II (pictured below) anywhere that the user places a printable marker template.
So yes, there is an AR app in real life now.