Progress in developing high speed ADC's occurs rather slowly - at a resolution increase of 1.8 bits per decade. This slow progress is mostly caused by the inherent jitter in electronic sampling - currently on the order of 250 femtoseconds in the most advanced CMOS circuitry. Advances in femtosecond lasers and laser stabilization have led to the development of sources of ultrafast optical pulse trains that show jitter on the level of a few femtoseconds over the time spans of typical sampling windows and can be made even smaller. The MIT-GHOST (GigaHertz High Resolution Optical Sampling Technology) Project funded under DARPA's Electronic Photonic Integrated Circuit (EPIC) Program is trying to harness the low noise properties of femtosecond laser sources to overcome the electronic bottleneck inherently present in pure electronic sampling systems. Within this program researchers from MIT Lincoln Laboratory and MIT Campus develop integrated optical components and optically enhanced electronic sampling circuits that enable the fabrication of an electronic-photonic A/D converter chip that surpasses currently available technology in speed and resolution and opens up a technology development roadmap for ADC's. This talk will give an overview on the planned activities within this program and the current status on some key devices such as wavelength-tunable filter banks, high-speed modulators, Ge photodetectors, miniature femtosecond-pulse lasers and advanced sampling techniques that are compatible with standard CMOS processing.