I wasn't born yesterday, so I'm not sold on this yet, but at the very least it's the coolest gimmick I've seen in a long time. The Cycloramic app for iPhone controls the vibrator inside the iPhone to rotate the phone on a flat surface as it films a 360-degree HD video or panoramic still picture. I'd be very unhappy if my iPhone was damaged while falling over doing this, though.
[youtube]http://www.youtube.com/watch?v=7jFGvZjovZk#t=66[/youtube]