Folks have probably seen the Ultra Low-Cost Laser Rangefinders by Neato Robotics
For those who haven't seen it, it is worth a look. Essentially it uses a low-cost laser and a low-cost digital image sensor (mobile phone?) to triangulate the position of the laser 'dot', and calculate a distance. It scans 360 degrees to cover a room.
A sneaky part is it is only 10cm wide, and all the parts are fixed to the same base, allowing the thing to be calibrated once at manufacture. The entire optical system is rotated 360 degrees at several revs/second to create a local 'obstacle' map.
To get good resolution, they are doing sub-pixel interpolation using the image data. They use a DSP for this part.
This sounds like something that might be worth a go with Oak.
Maybe LeafLabs can think of a way of making/obtaining the optical system. It would make a great tool for low-cost (autonomous) roving robots.