Although I agree with some points you make (namely the video is still demo material) the flickr and photosynth embedded in the street view in bing maps is already a reality and way better integrated than google's.
The new maps where you can add apps to the map view (the flickr thing is tech prev but available). Some are either not well supplied of entries or tricky to use, but the photosynth and flickr photos integrate great in the street view. The positioning of the photos is very accurate (not as google's "see the photos without context apart from the geo pos").
Granted that the interface from bing is a bit shaky to use... but in terms of the content at this point it does surpass google's (and also the eye candy of transitions is very good).
Note: I'd still use google maps to get from here to there though... (the interface seems simpler and less clouded...)
I have never seen anything fill up a vacuum so fast and still suck. -- Rob Pike, on X.