You say augmented reality to me and I immediately start thinking virtual reality with gloves and massive headsets. That's not really what the Layar augmented reality browser (that will be coming to the Android store soon) is about.
The idea behind the Layar browser is that people can visit places and build their own layers to share with other users of the browser with information like historical sites and restaurants in an area. The app lets users mark a point on a map and enter data about the location.
Businesses can also use the application to enter information about their services and locations. The big catch right now is that the Layar application is limited to working in the Netherlands only and there is no word on when or if the service will be made available to other countries.
The app seems like an extension to the myriad of available social networking and mapping apps that let you get more information based on your geographic location. We have also talked about other augmented reality applications before like the Enkin application.