The Kata ABS-HD starts as a pouch about the size of a book. One minute of blowing later, it's a carry-on bag that can protect a full-size camcorder. And that is a really, really excellent idea.
Basically, the ABS-HD is only a bag when you need it to be. Things that fold up into themselves are always fun - think of those anoraks that you can zip up into their own pockets - but the ABS HD's built-in tube for inflating, which only takes a minute, is an even more impressive feat of transformation.
Kata points out that it's not a full on camera bag so much as inflatable protection for your gear, so it's intended to be blown up for travel but not necessarily used full-time toting. Still, it has both a handle and a shoulder strap, making it easy to lug on and off a plane, say.