A few months ago I found this interesting video about a home-made interactive whiteboard (a la smartboard) made by Johnny Chung Lee, from Carnegie Mellon University.
Outside of the niftyness factor of making your own cool tool using a wii remote, this project can also create huge savings for schools. A smartboard can set you back from 1000 (without projector) to 5000 dollars (with all the bells and whistles, including integrated projector) , while this project, on top of a projector, will cost you about 45$ for the wii controller and a few extra dollars for hardware.
This morning I found detailed instructions, including free software downloads for LED pen calibration to help ease the process, for building the project on Johnny Chung Lee’s website. Very cool stuff.