Here is a screenie from my Vasquez Rocks test.
As you can see, it's not that great since I was unable to get above
the rocks for the down angle, so a good deal of the upper textures are missing. Also, I wasn't being very organized about it, just wandering around shooting. If you keep the model in the same low perspective as I was walking around it, however, you don't see those missing tops.
This one also took some hand input to tell the software where some corresponding points were between photos.
However, it's not too bad considering how huge the thing is (those cars are in the FG) and it does wrap around the front 270 deg. (Which you can't see in this still - of course!
At the bottom of the interface you can see a 'filmstrip' of some of my stills that went into the making of the model. Those little white cameras are generated automatically by the software, and actually pinpoint where you were when you took the picture.
It would be interesting to feed something like all the photographs of the Kennedy assassination into it. Not only would you get a 3D model of the plaza, but you could see where each camera was positioned at the time it took the picture.