Just listened to a piece on radio 4 about a woman who has created a device that can recreate that spine tingling feeling you get when you do something dangerous like skiing and she believes she can recreate other emotions which we could share online with eachother (using electonic emotion storage devices, which is obviously a long way off). This could have applications in gaming, so for example we could get that feeling of adrenalin rushing while playing a racing game.
Another cool invention featured in the piece is a device that can recreate the feeling of touch, so this could give prostethic limbs feeling. We live in amazing times.