The guys at iFixit who have in the past done teardowns of iPhone, iPad, Google Nexus One, Samsung Galaxy Tab and a lot of other gadgets has now done a teardown of Microsoft Kinect. A teardown is the process of disassembling the device and identifying all the parts it is made of and also assessing its repairability.
IFixit says that the two cameras and the IR projector that sense the player are more like webcam lenses with autofocus than the lenses in your smartphone. The mainboard has chips from Wolfson, Fairchild, NEC, Marvel, and a few other vendors.
Here is the video.It is a very detailed video and is very interesting for enthusiasts and casual users alike. Go ahead and watch it.