[MENTION=4809]Will98[/MENTION]; In my mind it seems pretty simple. You know how the animators/artists make the anime characters come alive through perspective? and they can make characters turn 360 degrees. Well do that to the environment, first person features (In real life you can see the entire front side of your body, so all of that), and everything else. Develop AI for the other characters, Story, script, and voice acting then you got a game!
As you turn the camera you can see everything!
In my head it seems ready to throw this at the developers!