360 Degree Video for under $100?

I just received my new GoPano Micro, a device that started as project on the Crowdfunding site Kickstarter.com.  The device is pretty cool even if it is a little blurry.

It takes 360 degree video from your iphone 4 or 4s, which means you can pan in any direction while watching the action.  You can watch me, in front of me, beside me, or anywhere at anytime.

Watch the video below and use your arrow keys or mouse to pan around.  Just imagine a home tour done this way.

We would love to hear your thoughts.