Create High Res panoramas with exposure blending, using MS Image Composite Editor

Microsoft Image Composite Editor is an advanced panoramic image stitcher.

You shoot a set of overlapping photographs of a scene from a single location, and Image Composite Editor creates a high-resolution panorama incorporating all your images at full resolution.

Then save your stitched panorama in a wide variety of formats.

Features: State-of-the-art stitching algorithms; Advanced orientation adjustment view; Exposure blending; Output in many formats: HD View; Silverlight Deep Zoom; TIFF, JPEG, PNG, and more.