1. A video capturing and formatting system, comprising: a plurality of lenses coupled together so as to capture radial imagery of the environment; a spatial phase sensor configured to receive the imagery from the plurality of lenses and sense the color, exposure, and distance of travel for each photon in the imagery, the spatial phase sensor configured to generate image data representing the imagery of each of the plurality of lenses, the imagery being captured in 2D so as to maintain increased resolution for 2D viewing, the distance of travel for each photon being stored to also permit the generation of the imagery in 3D; and an editing unit configured to receive and process the image data to generate an editable master format configured to produce multiple playback formats in either one or both of 2D and 3D format for use on selected playback devices, the master format being a compilation of image data representing the radial imagery data in three-coordinate space, the editing unit including mathematical algorithm software configured to blend the overlapping imagery data from the plurality of lenses into a singular radial two dimensional equi-rectangular image, the software aligns the overlapping imagery data from the plurality of lenses by matching the photon distance of travel for each photon from overlapping matching pixels within the radial imagery of each lens, the processing of the radial imagery data of each lens is performed independently for each frame; wherein the master format permits the generation of image data into both 2D and 3D viewing formats and allows for each viewing format to be viewable on a plurality of the playback devices for viewing directly within the master format itself without the need for reprocessing for generation of the 2D and 3D viewing formats.