I could add "Bing" Maps to the mix of overviewers.
Historical
Long before Google Earth, the Ordnanace Survey of Ireland had photographic overviews of most of Ireland taken at various altitudes on high resolution film.
I had a Thesis project sites down in the West of Ireland for which I needed a site plan. I went to the Ordnance Survey office who were able to produce a map for me from their aerial photos they had with 0.5 metre contours because overlapping maps allowed a stereoscopic "distance" view.
Can I say that to some degree I share your trepidation and note that we we all seem [judging from the responses here] to have become far less interested in invasions of our privacy in the past decade.
Origins of overflight photography
Spy planes were the stuff of boy stories in the fifties and sixties. But they could be brought down.
Back in the Cold War years overflight photography was mutually viewed as an act of espionage by foreign powers by American and Russia, but why do you think they went into space in the first place?
To reach the moon? Certainly it was a propaganda victory for the Americans.
But no, IMO they went into space to improve battlefield communications, offer accurate location finding for unmanned assault vehicles, establish unassailable overflight platforms [at the time they were] and of course to "be there first" - all good propaganda and military objectives.
Human Interest
Little did they realise how much we humans, the universe's local attempt to consciously know itself, would actually like looking at our planet - ALL of our planet.
Many's the evening I've spent "flying" over Australia, marvelling at New York or Leningrad or the growth of the cities in the Far East - sucking all this information up with an appetite I didn't know I had.
The Possible Legal Positions
I think if you took a case now to restrict over flights on the grounds of personal privacy I there would be an equal and opposite case made that increasing knowledge about other countries could lessen barriers culturally or could better inform us of their capabilities militarily.
Your case would be based on the Private Need - the defense would be based on the Public Good: the Public Good will likely win that one every time.
Multiple Local Observers
There is also the case that we might learn something new about ourselves and the planet.
Think of the discovery of the hole in the Ozone Layer - how much sooner would that have occured if everyone could have browsed the data?.
There also a huge movement now in News Reporting towards using on-the-spot sources - look at all the "eye-witness" videos sent in by locals with iPhones from Libya and Japan at the moment!
This trend,coupled with the history of amateur discoveries in Astronomy suggests that if we made these views avaiable to all someone who is observant might spot something interesting .
What could you do?
If you're really worried about privacy - as opposed to Google or Bing maps taking relatively remote images of your house - perhaps lobby for a bill to limit private helicopter traffic over residential areas.
During the Noughties we had something like 20 flights a day over our house and at least eight helicopters a week - most of them privately owned.
I remember from The Lincoln Laywer by Michael Connolly, he got one of his grass-growing Hell's Angels clients off on a technicality relating to an overflight taken below a certain altitude. If this isn't creative license, a similar law here might help assauge your concerns.
Also if you look at Google Earth, the faces of people and cars are blurred out now, a response to someone complaining about an infringement of privacy.
The other side of the coin.
For me as a designer and planning consultant, I find the detail of the present overflights useful. Google Maps and the Bing 45 degree "view" have a wealth of detail more than a typical Ordnance Survey Map, which offers a plan outline.
The very detail that upsets you allows me to form a more accurate opinion in relation to - for example - the aspect of windows on new high density developments to help REDUCE overlooking and infringement of privacy on surrounding existing dwellings.
Similarly you could present a set of views of your house to An Bórd Pleanála showing how your privacy or amenity might be infringed by a proposed development. So its swings and roundabouts.
Suggestion
Perhaps you could get on your 8Mb Broadband connection with a wide screen monitor on and try this Google Earth thing yourself for a week, and see if you like it.
Yes, you'll see the odd extension in a back garden you never knew about, but lets face it, unless you have something to hide, why worry?
ONQ