I most enjoyed watching Obama with Bush's facial expressions -- Bush is so expressive that it just looks incredibly wrong on Obama's face -- I wish they would run an Obama speech on Bush's face as well.
I'm thinking this technology demo will be spliced into 5s edits for least one prime time TV show themed around shadowy intelligence agencies by middle of next year.
Show writers will be able to incorporate this as a plot enabler for upcoming episodes, assuming they haven't already finished shooting the current seasons.
I think in our world as well, VR will really take off when technology like this is applied.
One interesting thing that I noticed at 1:45 is that visible teeth can really change a person's appearance -- Bush doesn't seem to use his teeth at all when he talks.
Also, I think you're thinking too limited...I think if this were perfected, and the physical technology put in place, most people will opt to look like Tom Hanks (or someone else as famous and attractive) than to look like themselves.
I think the audio is just low quality. It wouldn't make any sense for them to do that.
I have some kind of prosopagnosia, I recognise people in video but I absolutely don't recognise modelled faces, its just looks like lo-poly models on Nintendo 64 for me.
Does this mean that we finally will have (hyper)realistic faces for the FIFA video game series?
Looks like there's some interesting research on Voice Conversion out there, but I'm not knowledgeable enough to comment on how close we are to seeing it as an actual product. This pdf (from 10 years ago) seems interesting, though. Hmmm: http://nlp.lsi.upc.edu/papers/thesis_helenca.pdf