Markus,

> Well, you have what you have, I think. For which country do you need
> the DEM?
Philippines

> > >>I once received a script collection to use Octave and GRASS
> > to perform bundle block adjustment but never got that working
> > (still have the code, we could contact the author).
I've been reading through a couple of articles using bundle block
adjustment.  

>From the manual of Leica Photogrammetry Suite:
Bundle block adjustment determines the position and orientation for each
image in a project as they existed at the time of photographic or image
exposure. The resulting parameters are referred to as exterior
orientation parameters. In order estimate the exterior orientation
parameters, a minimum three GCPs is required for the entire block,
regardless of how many images are contained within the project.     

This maybe what GRASS needs as an additional functionality.

cheers,

maning

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