Machinima is just a rip off of this guy. Star Wars done in animated ascii characters. http://www.asciimation.co.nz/ only goes up to about halfway, when Han and Luke are getting Leia out of detention block 1138.
As of April 2008, the guy has been at it for over 10 years (presumably with long breaks in between)
The scene above is when Han and Luke and Chewie do the "prisoner exchange ploy"
And here it is as an animated gif
There's a whole cartoon series done this way in 2002, Chickenman
And this guy has a way of turning any movie into an asciimation
Evan Roth has some good Flash stuff.
Navigate from the linked page to find lots more.
Some of the resulting images would make for perfectly acceptable static art, but it would be hard to make something like this without a computer.
It's a rare example of computer art that takes advantage of the qualities and benefits of computers as a medium.