Thanks for the tip.
I downloaded it and gave it a quick whirl. I ran a few pano's thru it and my first impression's are:
It's Quick, Does a fair+ job on alignment (there dosent seem to be a way to correct or manually align misalingment's), integrates nicley with vista, Can output layerd PSD doc's, but not so good in the blending and do not rescale your images in it (I scaled one to 50% for output and it looked like it was sharpened for print)
I think I'll keep it for a while and play more latter. I gave it a couple toufgh ones and the outcomes were better than some other stitchers in automatic but there doesent seem to be much choice other than complete auto and hope you can fix mistakes in another application. My guess is these features will be in the paid version.