The first maps related announcement from Google I/O is the graduation of the Google Maps API v3. Google say that the Maps API v3 is now the recommended version for all new Maps API application development.
As part of the Google Maps API v3 graduation to the principal maps API Street View has been added to the Maps API v3.
Street View in v3 is entirely implemented in HTML in order to accommodate all of the mobile devices on which v3 is supported. In v2 of the Google Maps API Street View relied on Flash.
Microformats.dk seems to be the first to produce a working demo of the new Street View feature in v3. Right click on the Street View in the demo - see no Flash!
The Maps API v2 will now be deprecated along with Mapplets (which is based on v2). This means that no further feature development is planned for these two APIs. However, Google will maintain and support applications using these APIs for at least three years consistent with the deprecation policy detailed in the Maps API Terms of Service.
Via: Google Geo Developers Blog