This sensor is able find objects and walls with ultimate precision and makes laser ranging technology finally affordable.
A great design collaboration between Joe Grand (Grand Ideas) and Parallax! The design uses a Propeller processor, CMOS camera (like in the Wiimote), and laser diode to create a low-cost laser range finder. Distance to a targeted object is calculated by optical triangulation using simple trigonometry between the centroid of laser light, camera, and object.
Grand Idea Studio's Laser Range Finder page
Demonstration videos of the LRF Module
Hack A Week by Dino Segovis
Object Sensing Robot using the LRF Module by Roy Eltham
LRF Development Diary post
Beau Schwabe's video
Laser Range Finder/Game Boy Printer Hack