There are so many cameras on the market with the words 'Panoramic' marked on them. But very few of these are actually truly panoramic.
Some cameras use a narrower strip of film but the same length as normal to achieve the wide affect.
This includes the new Advanced Photo System cameras and the 35mm compacts with the panoramic option. Other cameras use a wide angle lens that covers a wider format of film than usual and then place a longer strip of film behind it. Such as the Linhof Technorama, Fujis and the new Hasselblad. With all these cameras the widest angle of view is 90 degrees. And the major problem is that the lenses must be large and of extremely high quality so that the edges of the image are as sharp as the centre.