Touch Screen Data Logging Overlays

I was digging around in some old files, and came across some interface ideas that I put together for metadata logging.

The first was the idea of overlaying touchscreen data logging controls over the top of the content that one is attempting to log.

When I first proposed this, oh, say, 8 years ago or so, there were some technical concerns about overlaying translucent interface elements over the top of full motion video. I don't think those are concerns any longer. There were also opinions that it would somehow confuse the loggers to have to process both what they were logging, and the activity of logging in the same screen. This always seemed like a silly (OK, stupid) argument to me. And now, with all kinds of new interfaces in automobiles, fighter jets, etc. that overlay controls or information over your view (like this one):
..well, I wonder if maybe the idea should be re-explored.

What do you think? Anyone have any experience with these types of interfaces/controls? Do you think the overlay model would work for logging video?

The other idea we pitched:
Was much more traditional. A combination of keyboard shortcuts, and a contextual mouse menu that, based on what key combinations you held down, would display a different set of data elements.

Interestingly enough, neither of these concepts were adopted by any of our clients back in the day. I still think they were great ideas, that could have really sped up data entry. But, well, the age old, type, tab, type method ended up the winner at the end of the day.

Txt... is there anything you can't do?