Thanks to Jesse at Very Spatial for the tip that my friends Tom Churchill and gang at Earthscape have released their virtual globe product for the iPhone. They have developed a lot of very cool virtual globe technology and have been looking at various directions they could take it in (competing head on with Google Earth and Virtual Earth being a tough proposition!), and I think that the iPhone direction is a really promising one for them.
This first version is missing some obvious features such as search, but the slick navigation means that you miss that less than you might think. I imagine that and other features will probably come along soon though, and I know they had various other cool ideas so I look forward to seeing more good things in future releases. One thing that is missing from earlier prototypes that I saw is changing the view based on tilting the iPhone. I think this is probably a good decision - this approach had novelty value but was hard to control well, and I think that the navigation controls they have now are very intuitive.
Overall it definitely has a high "cool factor" for showing off the graphics and touch screen capabilities of the iPhone, which I think is a big factor in driving application sales at this early stage of the iPhone application platform. Congrats to the team at Earthscape on getting the product out!