Yep. Math up the wazoo. The Perspective object definitely would have helped, I wanted to use it for curvature of the "camera lens" but alas it's not for iOS.
But yep, it's a 360 degree playfield, I map out the area with big rocks and pickups and bad guys and whatever I like, in 2d, in the Level Editor like a top down shooter, then run around in it. I also have control of the players viewing angle field of view, and the perceived distance between each 3d sprite.
You can aim down at the ground and up into the sky. Players and baddies can take cover behind other objects. You can change the height of the "camera"/player view in relation to the horizon. So players can feel either smaller and closer to the ground, or bigger/hovering over everything else.