How useful is Olympus Panorama?

I am a great fan of panoramic photography, and I thought Olympus m4/3 system would deliver. To my dismay, I find their so-called built-in pano feature to be less than desirable.

They only provide guiding lines to compose the shots but do not immediately create the pano end results in camera and require you to use PC software to create it. So what is the point? I do not understand how the guiding lines can actually help much in delivering pano photos; I can jolly do without them at all and stitch them using Photoshop.

I seriously hope Olympus will offer a firmware update to either create the pano shot in camera or allow sweeping panorama.

In any case I have just sent an e-mail to Olympus.