Learning something new is great, which is why I thought Steve Clayton's post today deserved a mention. In it Steve quotes a member of the Microsoft Research team, who explains how the panoramic stitching feature in Windows Live Photo Gallery is similar to PhotoSynth, and more importantly, the difference between the two processes.
"The main difference is in the second half of the processing pipeline. Image stitching software assumes that all images were taken from the same point, so that they can be seamlessly stitched into a single image. Photosynth assumes that the pictures are taken from different points of view, and can therefore be used to create a 3D model of the scene. On the flip side, it isn’t possible to stitch all the photos into a single image, so we use “morphing” 3D transitions to move between individual images"
There is also a hint at the end that these two processes may eventually become one. Definitely worth a read if you want to find out about the history behind PhotoSynth - nice investigative work Steve!