[BGyss]

There already are a few papers on Kinect-based 3D face reconstruction (most of them seem to be behind paywalls though). Here's a video:

http://youtu.be/nYsqNnDA1l4

The infrared makeup (pretty sure the only company that kinda pursued that path was Mova) was kind of unwieldy and it's kind of fallen out of use already. Most facial capture in the future will probably just utilize some kind of depth capture (light field, structured light) in concert with a normal witness camera to reconstruct facial features.