I've been doing a lot of panorama shots recently. Probably because I've been using the G1 a lot and leaving the 5D at home, so I've been a bit restricted on the wide open aspects. I find with CS5 that stitching works really well, and have had few failures.
I find it best to open up the lens focal length to cover more than I want in the shot, because you often lose quite a lot on the distortion caused by stitching and keeping it in perspective. I still manage though to get a high-resolution shot. The one below is 5,300 px on the long side after cropping. I always use focus/exposure lock when taking the shots.
I always shoot RAW, and I edit them in CS5-RAW by doing a select all and then synchronize them together (you can even apply a grad filter in RAW to all the shots for a bright sky etc). In Photoshop I just use FILE/AUTOMATE/PHOTOMERGE and select 'all open files'. It seems to work really well about 95% of the time.
Anyone have a different method?
Criccieth, North Wales. ISO100, f/11, 1/200s.