I have tried Photoshop CS3 for several panos, but never received any results that were worth keeping. There is a ton of hype over the feature, but I have yet to find an application it actually worked well on. Alot of my panos I use a sturdy tripod with the Manfrotto 303plus panoramic head, and photoshop still never made a nice pano.
I like Panorama Factory V4.4. It creates a layered photoshop image at the end. You have full control over where the stich points are. Its fast, easy to understand, and user friendly.
Anyways, everyone likes something different.
View my gallery here:
http://www.pbase.com/a_zeitler/panoramicsAlmost every image was done in Panorama Factory.