In early September, two MIT students launched project Icarus: the $150 (almost to) space camera.
"...Two students put together a low-budget rig to fly a camera high enough to photograph the curvature of the Earth. Instead of rockets, boosters and expensive control systems, they filled a weather balloon with helium and hung a styrofoam beer cooler underneath to carry a cheap Canon A470 compact camera... They dropped a prepaid GPS-equipped cellphone inside the box for tracking. Total cost, including duct tape? $148."
Talk about resourcefulness. The best part? Anybody can do it. Cheap, easy to assemble, NASA-quality project. Check in on the Icarus project page for (soon to come) step-by-step instructions.
1337arts Icarus Project TimeLapse Video (Max Altitude: 93,000 ft):