Turned the point cloud data into a 120x120 height map. A higher resolution height map would be possible with interpolation for missing grid points, I might try that next.

Each grid point is connected by springs to adjacent points and also to target points updated by the animated data derived from the source csv files.

Source data is here:
code.google.com/p/radiohead/downloads/list

GPLed processing code is here:
code.google.com/p/binarymillenium/source/browse/trunk/processing/hoc/hoc.pde

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Update-
The radiohead data processed into pngs for height and intensity are here:
code.google.com/p/binarymillenium/downloads/list
This is similar to what is on the memo.tv site, but storing as a png takes advantage of the png compression and also makes it easy to visually verifiy the correctness of the data.

X-values need to multiplied by 235, y-values by 350, and z-values by 140 to get scaling similar to the original data.