This is from 6 years ago, and I still haven't seen anything as good: http://createdigitalmotion.com/2009/06/magical-3d-warping-te...
If you took the image stabilization you linked and sped it up the end result would be garbage. Different techniques for different goals.
You can 2x the video on Youtube to see for yourself. The major drawback is cropping and computation time, which is where Microsoft's technique excels.