Back in May, on a French demoscene forum, demoscene.fr, Patapom mentioned a list of lens flare effects used by Video Copilot and presented his idea of implementing all of them in real-time. A few weeks later he finally presented his lens flare real-time rendering implementation as well as how his experiment turned out and provided the following video.
A physically-based real-time lens flare rendering method was also presented at SIGGRAPH in August.