All day I can watch the V-22 Osprey tiltrotors come in in VTOL mode and land at the Pentagon. They seem even more common than transport helicopters. Now that the early crash-kinks are worked out, they're a truly amazing aircraft. <a href="http://en.m.wikipedia.org/wiki/Bell_Boeing_V-22_Osprey" rel="nofollow">http://en.m.wikipedia.org/wiki/Bell_Boeing_V-22_Osprey</a>
See also the similarly-configured LEAPTech model: <a href="http://spectrum.ieee.org/tech-talk/aerospace/aviation/nasas-newest-xplane-will-fly-with-18-electric-motors" rel="nofollow">http://spectrum.ieee.org/tech-talk/aerospace/aviation/nasas-...</a><p>That one doesn't do VTOL but there are apparently nontrivial efficiency gains from that configuration even without tilting the wings. If you could get enough efficiency gains from the reduced wing loading to offset the weight of the wing tilting apparatus you could effectively get VTOL 'for free' (maybe, I don't know jack about aerodynamics).
Looks a bit...inefficient? At least compared to regular helicopters, and I assume it doesn't go much faster than a helicopter going by its design. But at least its bigger than any existing helicopter, so there's that.