Wahawk wrote:
My thoughts are that I can do a lot of stitching for that price!!
The device in question produces 360º of information on a single shot with a single shot resolution. Creating a stitched panorama produces a large composite with tremendous resolution as the camera's native pixel density is presented in each slice. That is, for each degree of pano, a single shot 360º occupies 1/360th of the horizontal resolution of the sensor. A ten slice pano would have ten times the resolution per degree and produce a very large file from which you can choose the final size/resolution. Thus a major consideration is how large your intended final product is. Additionally, the initial picture is, effectively, a donut of information with the verticals squished towards the inside of the donut. When the picture is processed into a linear view, the top will be spread out to match the bottom (outside of the donut with significantly more sensor used per degree) and the bottom will be squished until the results resemble a familiar linear view. Thus, lots of information on the bottom of the horizontal is compressed out and the top (inside of the donut), which contains the least resolution, is spread. The result is a significant loss of resolution. You can't get something from nothing.
The advantage of the gadget is the simplicity of the process. The disadvantages of the gadget include image clarity, versatility, limitations on lens choice, and control over pano processes. It is a trade-off between convenience and quality, always a consideration when balancing process with results.
It is really a question of expectations. If you are just doing a interior shot for selling real estate and publishing on the web, then the resolution is moot. If your intentions are wonderful panoramas with gorgeous detail than the device will prove to be woefully inadequate. If you are going to present the image in a large print format, it will be a disappointment as the image detail will be inadequate for enlargement.
For $500, you can buy a Gigapan and do some serious automatic pano. For $100 you can buy a Panosaurus ( or similar device) and manually move the camera through your Pano arc, taking images between 20-40 degrees of arc. Both devices offer the advantage of endless choice of lenses. I have used my telephotos, normals, and my 1968 Accura fisheye for panos with equal success with my Panosaurus. Each requires that you do a relative straight forward front/back adjustment for nodal center per lens, however, this is only important if your subjects are relative close as the parallax problem exhibits inversely to the square of the distance from the camera and only shows up significantly if some objects in your image are in front of each other and relatively close to the camera. I have taken many successful panos hand held with no problem.
So, what is your purpose? Quick and simple one shot with resolution expectations not a consideration and some limitations on lens choice or artistic/quality expectations with no limitations on lenses, but requires you to develop pano techniques. I can see justifiable uses for both systems.