Blender internal dispersion and caustics effects

http://www.youtube.com/watch?feature=player_detailpage&v=gIT1g_LMd3E

Nion writes:

I guess most of the people think dispersion and caustics are not possible to achieve using the internal render engine of Blender 2.5. In my opinion nothing is really impossible – a lot of things are only more complex to set up and/or less physically accurate than with other render engines. Dispersion and caustics are a good example for that.

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