Trying to recreate this type of camera position without all the equipment until I figure it out. Then I will start buying more equipment. Looking at the image above from Denton Images, The clamp above the ballhead must be level and the clamp holding the camera must be perpendicular to the clamp above the ballhead. However, the camera is pointing down.
Neglecting parallax and the whole nodal point issue for now. If I mount the camera just as it is in the photo in the clamp above the ball head (pointing down, but level side to side along the top edge, level the tripod apex under the ballhead and rotate the panning base of the ballhead, that should do it...right? Then I would need the nodal slider to move the camera back and get the nodal point of the lens in line with the point of horizontal rotation. Obviously, this is all easier to setup with all the gear pictured above. However, I always like to learn first and then buy what I need to do it easy.
Three terms:
Pitch - fore and aft tilt angle.
Roll - left to right tilt angle.
Yaw - "compass" angle at which the lens is pointing
The purpose of displacement rails - a single "nodal slide" for single row stitching, or a nodal slide + a horizontal and vertical displacement bar for multi-row stitching - is to eliminate parallax errors.
The purpose of having a panning mechanism on top of the tripod head is to ensure that no matter what angle the heads platform is tilted to , the the arc described by the panning motion will be a plane - a straight line - and not a curved one.
Since the base of the head is separated by the from the camera platform by either a ball or separate joints setting pitch and roll angle - it doesn't matter if the base of the head is level any more than whether ground or floor the tripod is resting on is level. This holds true as long as the position of the head and tripod are fixed...meaning don't use the lower rotator!*
With a rotating clamp at the camera platform level, once you set the camera platform at any angle you define the rotation plane for the camera.
Now if you are planning on shooting a mosaic of say nine frames to create a higher resolution view of an object then you will need a more complicated set up where you have two rotators - one for yaw (side to side angle and the nodal point of the lens will need to be centered where the yaw axis and the pitch axis intersect. That is the purpose of the more complicated panoramic rigs like the RRS PG-02 and Ultiamte pro, or the rig you pictured.
*If the field of the subjects is sufficiently far away - at photographic infinity for the lens and camera you are using - this doesn't matter, especially with contemporary stitching software. It's where you have significant differences in near/ far distances -relative to the subject - that it does.