Hi Gaieus, it ain't about making a panorama, it's about making a sequence of panoramic pictures. In other words it will be an interactive panoramic video. See the example in my first post (and your reaction).
@gaieus said:
Cubic pano out plugin will create an image (and optionally a scene) for each 6 sides of a cube you are "inside". All you have to do is to stitch these images together in an external application (a lot easier than how you described). What platform are you on? (It would be worth adding your OS and SU version to your profile). I do not have QT Pro either but could make a panorama in about 5-10 minutes (depending on export size).