A more advanced way which can look a lot better, but may be a little slower: You can use the pixel shader to apply a convolution filter to the screen image.
http://lodev.org/cgtutor/filtering.html
The matrix can be calculated in the vertex shader by passing the camera's old and new positions/angles. From the link, this would be a 9x9 motion blur matrix for a 45° angle (should probably downsize it to 5x5 for a speed gain):
double filter[filterWidth][filterHeight] =
{
1, 0, 0, 0, 0, 0, 0, 0, 0,
0, 1, 0, 0, 0, 0, 0, 0, 0,
0, 0, 1, 0, 0, 0, 0, 0, 0,
0, 0, 0, 1, 0, 0, 0, 0, 0,
0, 0, 0, 0, 1, 0, 0, 0, 0,
0, 0, 0, 0, 0, 1, 0, 0, 0,
0, 0, 0, 0, 0, 0, 1, 0, 0,
0, 0, 0, 0, 0, 0, 0, 1, 0,
0, 0, 0, 0, 0, 0, 0, 0, 1,
};
TheComet