Hi Manfred. I have also noticed subtle differences with the panoramas which is why I suggested comparing the SOOC to the panoramic result in post #8. Particularly with landscape images you will see that the Auto-Align Layers result doesn't always match the Auto-Blend Layers, Panorama exactly. Usually the difference is seen in the changes made by Photoshop to minimize the differences in brightness, vibrancy, colour, and alignment most noticeably where the panels merge. When I did the
Lady in Red panorama, I had to blend the images manually from the Auto-Align Layers result as I couldn't get the Photoshop panorama close enough for my taste.