Here are the steps to access Google Street view (btw, I'm using an HTC EVO)
1) Open Google Maps
2) Point to a spot on the map, press and hold
3) You'll see a "Loading address..." message which will be replaced with the address/location.
4) Press the address/location to access the address/location details.
5) That screen will show many options. The far right will have an icon of a person which will switch you to Street View (if available for that location).
6) Once in Street View mode you can press Menu-->Compass mode. Moving your phone will rotate the view. Press Menu-->Compass mode to turn off compass mode.
As an alternative you can try this...
From the original map (non-street view mode), select Menu-->My Location. Then click on the arrow showing your location and it will display "My Location" and the accuracy. Click that message and you are on step 5 above.