Yellowbird Tech, User controllablle video
 

This is by far one of the coolest tech I've seen to date. It's pioneered by Yellowbird tech and it uses 5 cameras and some voodoo magic. As you watch the flash video/film, you can drag and pan up/down/left/right as the video is playing! 360 degrees of awesomeness!

Unfortunately, I can't seem to embed the videos below but I'll post links directly for each one!

YellowBird Tech showing their show reel

Nimmo Bay, British Columbia using the same tech

The band, MUSE utilizing this for their concert with multiple cameras!

Group buy?!?!? :D

EDIT:
Alright, I found a version on youtube that's basically in Panoramic form but it's not wrapped, so it's kinda missing that key element(dragging) tech (Ugly). I prefer you guys watch the above three videos for best effect. :D

The MUSE concert was awesome :D