Panoramic images and "stitch ups" can be quite fun, effective, mainly because this is how the human eye views the world and not just through a wide angle lens. They can also be very easy to produce. Just set your camera to manual exposure and find the ideal reading through the sweep of the image. Ideally take the photo in portrait mode, to get more height and overlap each frame by a third. Now using a program like Adobe Photoshop Elements 9 to automatically align and stitch the images, you will then need to crop accordingly. Elements 9 does a fantastic job of stitching but there are many other pieces of software available.
I have also found that the stitching technique can be handy when the view you require can not be achieved with your lens and you can't step back to get it all in or you want to get more detail from a subject (large building etc) that you wouldn't get from just standing back and cropping hard later
Most of the modern images were taken with a digital SLR and high quality files and large file sizes, but I have re visited some original early digital files taken on a simple 1 mega pixel camera (which was good at the time) and have found that these can be just as effective and Photoshop can handle them better. So tip don't go all out for the highest quality jpgs when doing panoramas