I've been following the P5, its a product that was just released by www.essentialreality.com
its a glove going for around $150 that is perfect for 3d modeling. It operates on 6 degrees of movement. the X,Y, and Z translational directions and the pitch, yaw and roll rotational dimensions
It was just released a couple of weeks ago and as of yet has little to no compatability. However, they have released an SDK.
It is not supported by any major 3d modeling programs yet. With Blender's unique open source position with a large coder base, it seems like it might be able to be the first to be able implement this.
Thought you all might want to check it out. It has a high nifty factor
check out the site and the demo