I've used the effect on 3 vintage photographs and edited them together afterwards.

On the first photograph I've isolated the pier, added Text, animated the water and added a light bokeh effect. On the second I've isolated and animated the 2 children and I added some dust particles, also I had to extend the photo on both sides. On the final photo I've isolated and animated the jumping ladies and added a slightly heavier bokeh effect. Over the whole animation i'v added dust, scratches and light bleeding to give it an overal vintage feeling.

Link to the video on Vimeo 

Photo credits:

http://www.shorpy.com/node/6136

http://www.shorpy.com/node/23531

http://www.shorpy.com/node/23632

Photos used with permission of Shorpy.com