This is pretty amazing...

http://funhouse.bubble.ro/1086/Amazing_content_aware_image_sizing_technique/

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This following is from the onOne Software site, maker of plug-ins for Photoshop, Photoshop Elements. They are developing a plugin for this. :)

onOne Software Announces Acquisition of Liquid Resize Technology
Jan 17, 2008 · onOne Software adds ground-breaking image resizing and retargeting technology to its product offerings.

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Information courtesy of the Digital Nuts Yahoo group:

http://tech.groups.yahoo.com/group/digitalnuts/