A while ago I made a skysphere generator. What that did, is point at every pixel in the sphere map, say a 1024x1024 pixel, means that on the X coordinate you have the Y angle, and on the Y coordinate, you have the X angle. So I just rotate the camera, grab the centre pixel, apply that to the sphere map for that location and angle, and it captures a sphere map from any 3D scene in DBPro. Handy for grabbing a skysphere that exactly matches the lighting and terrain and everything in the game.
Spheres often have badly warped poles, because it is difficult to effectively UV map the poles, especially when they meet at a single vertex. But what I have considered is, why not use 2 seperate skyspheres. The poles would be removed, then a second skysphere added, and rotated 90 degrees - so instead of a pole with nasty UV mapping, you have a rotated sphere, and textures that match much better. It is possible to get those results from a skycube, but that's 6 textures, and not an ideal drawing situation. The camera range is a radius, so a skyphere allows more conservative culling than a skycube - probably render about 30% more when using a skycube I'd say.
Anyway, the last thing I've done with this idea, is to make a planet generator, which I think might be close to what you are talking about. Imagine taking a sphere, and filling it with different sized spheres. At any vertex in your original sphere, you could calculate the closeness of those filling spheres, work out a 'strength', and apply that to the height of that vertex in accordance with the planet (so it moves along it's normal, out from the centre of the sphere. It's possible to generate a pretty decent planet with that technique, even generate a texture to go with it - you still have the problem with poles, but that is often a minor problem with planets (which have poles anyway, might as well use them). That principle could be applied to colour too of course.
The main thing is to calculate the texture pixel, or vertex height, or whatever based on 3D - a standard sphere might not look it's best, but a geosphere might cope better, or indeed the rotated sphere and double texture idea. Unfortunately there is not ideal way to wrap a sphere without breaking it up (maybe into segments like an orange) - not without some detail suffering somewhere.

Health, Ammo, and bacon and eggs!
