Draw radius around a point in Google map

Using the Google Maps API V3, create a Circle object, then use bindTo() to tie it to the position of your Marker (since they are both google.maps.MVCObject instances).

// Create marker 
var marker = new google.maps.Marker({
  map: map,
  position: new google.maps.LatLng(53, -2.5),
  title: 'Some location'
});

// Add circle overlay and bind to marker
var circle = new google.maps.Circle({
  map: map,
  radius: 16093,    // 10 miles in metres
  fillColor: '#AA0000'
});
circle.bindTo('center', marker, 'position');

You can make it look just like the Google Latitude circle by changing the fillColor, strokeColor, strokeWeight etc (full API).

See more source code and example screenshots.

It seems that the most common method of achieving this is to draw a GPolygon with enough points to simulate a circle. The example you referenced uses this method. This page has a good example - look for the function drawCircle in the source code.