Here's one idea. The two concepts are rotating around a point and prespective transform.
Rotation is easy enough. The formula is:
newX = (x-centerx)*cos(a)-(y-centery)*sin(a) + centerx
newY = (x-centerx)*sin(a)+(y-centery)*cos(a) + centery
The beauty of that is we can do a rotation in 3d by replacing xy with yz for example. We can use that to calculate the 3d positions.
The next part is to calculate the screen transformation.
fov = 60
eyez = 320/tan(fov/2)
screenX = 320+x*eyez/z
screenY = 240+y*eyez/z
scale = eyez/z
Then we just hide anything with a z less than 1, and sort the sprites by z.
The only other tweak is to move everything forward before the perspective transform by adding say 200 to the z variables after the camera rotation.
Anyways here's the implementation.
dropbox.com/s/86iitq0a0n1msbs/starve_test2.capx
I do like the container idea too. You'll want the displayed sprite, and the one you move with events to be different. As far as the textured floor i don't think the mode7 fx would be suitable for this since it doesn't handle looking up and down.