I've been fantasizing about doing this very thing for quite a while now, and after seeing this thread, I though I might play with the idea a bit. I don't have V3 (yet), so it may not look spectacular.

I took this shot from harmy's (superb) ded, and this shot from gout. After adjusting for the aforementioned distortion and whatnot, I came up with this result.

IMHO, some parts work pretty well, but some aren't perfect. Maybe it would look more real if I did better with the shadows on his nose and jaw. I'll take another look at it tomorrow. Oh, and btw, the extreme blockiness you see in the upper left isn't part of the matte I generated, its just due to the poor quality of the gout rip I have on hand. If it is/were possible to adjust for the warping with a script, or perhaps depending on the consistency of the warping, this might be possible.