Panoramas created in PTGUI seem to be "larger than life," i.e., have approximately 12% more vertical pixels than the original file? I understand that some stretching might be involved in order to correct lens distortions, but this seems way too big for that. By the way, panoramas created by Photoshop or Lightroom also vary in size from the original files, but mostly by 1-2%, and that is to account for the staircase-effect, i.e., uneven tripod. Once that is cropped out, the file size becomes a bit smaller than the original.