Forget spinning cubes with video stuck on their sides and instead check out the demo below. From Immersive Media, same the guys that brought you street view on Google Maps, comes an innovative new way to navigate 360 degrees inside a live playing video. How is it delivered? Flash of course.
Check out this demo. Once the main content starts to play you can click inside the video and drag your mouse into the direction you want to view. Make sure you check out the snowboarders at about 1 minute in - and follow them as they go over the kicker.
There are more demos here.