I confirmed this works tonight. I generated a QR code with all of my work contact information included. I them emailed that image to my friend who has a G1. He installed the barcode scanner app. All he did was open that app, and point the camera at his monitor with that image in the email. It almost instantly popped up with all of my contact info. Badass. We are trying to get our marketing dept. to order our new business cards with them printed on them!
Sidenote, my other friend downloaded a barcode scanner to his iphone (2g) and it also read the QR code.
Very cool.