It is because of apparent "hardware limitations" in the graphics department that we do not get the full set of features in the latest and greatest Google Maps app. It is really a shame.
The funny thing is, in the AOSP Android 2.3 ROM, nearly all of these features work because a newer OpenGL ES 1.1 driver was installed and a minor change in the build.prop file was made to trick Google Maps into thinking we have OpenGL ES 2.0. The only feature that I do not see working is the rotate in 3D, but the 3D itself does work in large cities, as does the compass, caching, and tilting.