Rating: 
360 Panorama is a cheap (2Eur) iPhone App that lets you create “dragged” panoramas in a fake 3d, that are both easy to do, and fun to play with. Currently the web view only works in Safari (sorry for that), but it really is impressive. When viewed from the iPhone 4 – even in the browser – we can use the full potential of the built in gyro to rotate around with our phones and preview the 3d world. The App runs surprisingly smooth, although it requires some precision and a fairly steady hand. Most panoramas have at least one jagged line somewhere – usually at the final end.
There also should be an option to do it more “3d” like than two rows of photos, but currently doing more than one can result in a badly stitched result unfortunately. Still it’s a pretty good effort in a cheap app, and can be a nice addition to our iPhone photography folder. The image quality is not bad, even in low light conditions, but there’s no focus and exposition lock, so each panorama-part can actually differ visually and that sucks a lot. But in good lighting conditions it’s a whole different story as seen above (it’d be perfect if not the final error near the end of the panorama).
It is predicted that iPhone 4S / iPhone 5 will have a built in panorama tool in the camera App, but we have to wait until tomorrow to see that anyway.
You can download it at http://itunes.apple.com/gb/app/360-panorama/id377342622?mt=8