Lovely raw render but terrible end result: horrible pixelation and distortions going up/down/sideways.
I definitely recommend Pano2VR by Garden Gnome Software
I'm currently making a full apartment walkthrough for a client with it. It's still a mess, half-arsed renders for testing purposes, missing stuff, but you can have a look at the overall functionality here:
http://clikcreations.co.uk/3dwalk1/Features include:
Custom UI: I built that mini-map for easier navigation, especially since this will be aimed at 40-50 year olds. You can have standard arrows and buttons or none at all!
Fast and reliable: HTML5-based - works on every device, loads super fast (especially if JPEG Mini is used to compress images! Which I haven't yet here). Flash is slow, introduces pixel aliasing and doesn't work on tablets/phones and some browsers where people just haven't got it installed.
Navigation: You can customize it, make it auto-pan and such, but I generally make it the same as google maps because it's the best! Double-click to full-screen, mouse wheel zooms, no weird tilts when panning, super smooth.
Additional stuff: You can add text, sounds, video, images, hotspot links, highlights, etc to your panoramas (in my sample, see kitchen hob, click on doors, etc)
Branding: None. Best part of it.
I really recommend Pano2VR if you're doing this sort of stuff for clients - it's just the best possible experience and the exported HTML/javascript files can be injected into your own sites if you have the know-how or you can use presets in the software itself.
Otherwise the Corona script as posted by Maru works well too, but I'm unsure about the auto-pan (annoying).
Hope this helps!