Philips has created a device that uses 3cm CDs that are capable of holding 1GB of data per disc.  Umm, me want!

The data capacity of the disc is 1.5 times more than that offered by current CD-ROMs, said Koen Joosse, a Philips spokesman. It was made possible using a blue laser, which has a shorter wavelength than red laser technology used in the current optical disc technology. A shorter wavelength means that the laser beam can create smaller dots on optical discs, which means more data can fit on them.