Regardless of whether the panning mechanism is below or above the ball and socket the panorama will always line up in 360°, so it's not really possible to screw that part up. With a traditional ball head with the panning taking place below the ball and socket you'd have to level the legs to get a level panorama, then control height with the ball (camera pointing up, down, or level). With the P0 you can't really do this, you have to have the clamp level or else the panorama will go up and then down throughout the image. As long as the clamp is level the panorama will also be, although it may not appear so depending on what you're taking a photo of. Do you have an example you could show us?
The above is one of the reason why I think the P0 is a bit of a silly and limited head, sure it's easier to level the clamp than the legs but you have no adjustability of the tilt of the camera so you're stuck with pointing it at the horizon. For example imagine a situation where you were in the centre of a football pitch and wanted to do a panorama pointed at the very highest seats in the stand, that's impossible with the P0 on its own without using a really wide lens and cropping the image. You also can't stick multiple panoramas with different amounts of tilt to get more vertical field of view, again requiring a wider lens instead.
. A normal ballhead with the panning mechanism located below the ball can be had for less than the P0 with equal quality. You have much more choice with that, and also a separate panning clamp if you wish to add one.
