We are nearly there. Here I am a couple months ago in Vienna with my prototype 360º video camera http://www.flickr.com/photos/ianjameswood/6103733114/in/set-... If you want more info, contact me via 360cities.net please :)

The greatest limiting factor to this becoming mainstream is the availability of cameras. Also, bandwidth and video capability is an issue: I can't download OR view 4k video on my still very capable 3 year-old macbook for example.

Now, Johnyzee I think mistakenly called it "360-degree 3d" actually, 360-degree images are 2-d, they are simply projected onto a spherical surface. They dont' however have any 3d information. Stereoscopic (i.e. "anaglyph, what people call 3-d, like what Avatar was) 360 video is another matter, and i don't think anyone has ever built that.