There was a program on the Discover Channel about how the Army is working on primitive cloaking devices. They use fiberoptics and computers to digitally project whatever is on the other side of the vehicle so it looks like it isn't there.
They showed video of a prototype in action, turned it on and I'll be dammed if the bloodly thing didn't actually disapear.
Of course you could see it, but only by staring and by knowing where it was... From a mile away, you'd never notice it.
Two downsides... It currently isn't 360 degree, it only works in one direction. Second, it is just a protype, not a battle ready system.
Directed energy weapons (lasers), cloaking devices, shields (deflectors), holographic projectors, particle cannons, "stun" phasers, etc. are ALL coming and I'm quite sure the military is putting at least a little money toward each of them. The potention military benifits of such systems mean that NOT researching them would be crazy...
Grasshopper