Microsoft Photosynth builds a three-dimensional environment you can fly through by comparing and aligning photos taken in a particular location. It's one of their Live Labs projects. Unfortunately, they haven't released the capability to build your own photo environments, they say it is "very compute intensive" but hey, isn't that what distributed computing is for? You can only fly through some pre-built environments they have made, and of course, only in IE6+, only in Win XP+.
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