REALVIZ this week released an update to its VTour application. VTour
uses REALVIZ' image based modeling techniques to create 3d environments
from (panoramic) photos.

VTour exports scenes as linear animation, or as Shockwave 3d files.
Included with VTour is SPi-V3d, a viewer application and Shockwave movie
for displaying the generated 3d scenes without further editing in Director.

Press release:
[url]http://www.fieldofview.com/press/060526_VTour[/url]

VTour examples (both Shockwave and linear video):
[url]http://realviz.com/products/examples.php?product=vt[/url]