Grant Skinner (gskinner.com) just recently posted this Flash 10 3D music visualizer demo on his “gBlog”. It’s crazy awesome, and even after examining the source code, I’m still not sure how it all works.
For what it’s worth, I went and edited it a bit, removing the music visualizer stuff and just making it spin according to your mouse position over it. Fun stuff. Check it out (P.S. Get Flash 10, Now!):