Shorter and more artistic, but similar: Teehan + Lax's Street View Hyperlapse http://labs.teehanlax.com/project/hyperlapse
The demo is down, but here is a fork https://github.com/afang/hyperlapse.js of their original github project https://github.com/TeehanLax/Hyperlapse.js/.
Working demo can be seen here: http://codepen.io/afang/pen/GpxqLQ