OpenCV is an opensource library for computer vision. It is available at http://sourceforge.net/projects/opencvlibrary/
With the help of some of the internet samples, i tried to play around with OpenCV from past two days. And here is one such application. It actually plays an AVI file.
You can find a nice tutorial on OpenCV at http://www.site.uottawa.ca/~laganier/tutorial/opencv+directshow/cvision.htm
Here is a glimpse of how my application will look like.
Hope it gives some insights to others who are interested in computer vision.