I'd seen Autostitch when it was first announced - as a research project by a couple of students at UBC. It's a really cool app that takes in an arbitrary set of photos that were taken of the same scene, and stitches them together automagically without user intervention.
Very cool software, and it does an amazing job.
But, it's Windows only. It runs OK in Virtual PC, but it's slow (as expected). I would really love it if this was somehow included in iPhoto 5 - imagine being able to select a set of photos and say "stitch these together for me" - and have it actually do it...
Here's a pano I did of the view from the condo we stayed at in Honolulu. I just took a bunch of pictures with my digital camera (no tripod or anything), and fed them into Autostitch.