Microsoft Research's Image Composite Editor is the best way to get high resolution stitched panoramas into Photosynth, and today we launched ICE 2.0. It's got a slew of great new features, including the ability to extract panoramas from video, a magical image-completion capability, and a built-in Photosynth uploader. No longer do you need to download a 2nd application to upload your panos to http://photosynth.net. If you care about the quality of our stitched panoramas, whether or not you want to share them on the Web, you should get ICE 2.0. It's free, and it's great.
Photosynth experts know that we have two ways to process a circle of photos taken from a single location. The first one is a classic stitched panorama, made with ICE2.0. This was hand-held, but note how the bottom and top edges have been "completed" so there are no jagged edges.
Below is a Photosynth Tech Preview panorama from exactly the same image set. The field of view is much narrower since you only see a single photo at a time, but notice how some parallax in the movement of the camera shows up as a 3D effect as you pan.
Unless you're in a small space and looking to create an experience with parallax, we recommend using ICE. With the 2.0 release it just got even better. Give it a spin!