Hey, you can see my house from here! (at least until Google changes something).
update 2: Egg on my face!
But in the terms and conditions you get if you click on the "Terms and conditions" link displayed on your map, it still says
The photographic imagery made available for display through Google maps is provided under a nonexclusive, non-transferable license for use only by you. You may not use the imagery in any commercial or business environment or for any commercial or business purposes for yourself or any third parties.
However, the API terms and conditions says
1.2 Photographic Imagery. The Google map images accessible to you through the Service may contain photographic imagery. Your use of this photographic imagery is limited to displaying it to end users within the Service itself, and in the same manner, form, format, and appearance as it is provided by the Service. You may not, nor may you allow others to, copy, distribute, display, alter, or otherwise use, this photographic imagery except as it is provided to you through the Service. Google reserves the sole right and discretion to determine whether your display of photgraphic images through the Service is in conformance with this Section, and also reserves the right to terminate or suspend your access to photographic imagery at any time for any reason, without notice.
Obviously the intent is that you can embed a map in your page but don't fiddle with it too much. But it would be nice if the terms and conditions were cleared up.