I've shot a handful of panoramas, and been somewhat pleased - which is to say it's the easy, often lazy, solution. panning speed is critical, you must pan left-to-right in landscape mode, and there are a lot of blur artifacts baked into the jpeg. and total file size is roughly the same as a single non-pan shot, so you lose a lot of resolution. i've done pans handheld (poking through a window where a tripod would not work; pooping out of the car for a quick pan of the landscape, etc) - these serve the purpose a fraction of the time.
for serious pans, select a focal length, set the camera in manual mode, put it on your tripod, and take a series of longer-focal-length overlapping exposures with raf images; then stitch them in photoshop, and the result will be far superior.