Thank you Gerald
David Hockney is, of course, Britain's greatest living painter.
He is also a brilliant landscape photographer who uses imaginative stitching inspired in part by cubism.
He has recently moved into stitched multicamera video as well.
The results are wonderful - worth a trip to the Royal Academy.
You can see some of his work by Googling Hockney photography.http://www.google.it/search?q=david+hockney+photography&hl=it&client=safari&rls=en&prmd=imvnso&tbm=isch&tbo=u&source=univ&sa=X&ei=6z5wT4mbJefT4QSOsLTAAg&ved=0CC8QsAQ&biw=1920&bih=1160
But the best way to understand his sophisticated art is to read the recent book "A Bigger Message: Conversations with David Hockney" by Martin Gayford.
In it, Hockney deals with the issue you raise ("severe parallax errors"). He explains why the mind appreciates a run through better than a panorama.
Psychology can trump geometry.
Hence my interest in adopting this technique to capture the unique tromp l"oeil decoration of buildings on the Ligurian waterfront.
Good that you raised this important point.