Mapwing is a lot like this, though user built (Score 1)

http://www.mapwing.com/ is a lot like this, though user built and a bit more controlled. Users can take street level images and associate them with points on a map. Then these points can be connected together, enabling users to take a virtual tour of the mapped region. While large scale street level photography is nice, it is going to take more control and human input to make a first person virtual world.