QuickTime VR-development tools have evolved very slowly, but the pace is picking up. The VR Worx 2.0, from VR Toolbox, is a major upgrade that merges what were three separate programs into one program that creates panoramic movies, rotatable object movies, and multiple-scene panoramas (see "Making VR").
A big flaw of The VR Worx's previous version is fixed in 2.0: the panorama maker no longer stores source images within the project file, and this results in smaller files that are easier to manage. Stitching is faster, and there's a slick new feature for adding visual transitions between two panoramas. You can also superimpose an object movie over a static image or a panorama.
Making VR: The VR Worx 2.0 walks you through making QuickTime VR movies.
But there are rough edges. I received frequent out of memory messages, even after boosting the program's allocation to more than 100MB. And Apple's circa-1998 QuickTime VR Authoring Studio still delivers superior results for panoramas containing tricky transitions between light and dark areas.