Earlier quoted context omitted.
Lambda calculus, like Turing Machines, was created as part of an investigation into the fundamentals of mathematics and in particular what is meant by "computation" - so it was never really intended as a practical tool for solving real world problems - which was arguably very much the motivation for Newton's creation of what is generally called "calculus". Edit: I don't think javajosh's question is unreasonable - not…
When you say "real-world problems" are you referring to the physical world? I don't expect that. I'd settle for using it to help me solve a mathematical problem. So far, all I see is a lot of hand-waving and not a lot of "this is a tool that can be applied to this sort of problem".
http://en.wikipedia.org/wiki/Lambda_calculus
One fascinating area for the use of lambda calculus is as a conceptual basis for the implementation of functional programming languages - indeed you could argue that a language is functional iff it can be mapped to the lambda calculus.
Edit: Although it is rather old (like me!) I have fond memories of "The Implementation of Functional Programming Languages" by Simon Peyton Jones:
http://research.microsoft.com/en-us/um/people/simonpj/papers... [PDF]
Another very cool thing is that you can translate expressions in the lambda calculus to SK[I] combinators - which means you can actually implement real programs (including recursion - e.g. using the Y-combinator) as two extremely simple functions - not very efficiently, mind you... :-)