Mike,
I've been using Arcsoft Panorama Maker for years. Works fine on TIFFs, etc. Less that $40 for a regoed copy. Allows manual alignment if the auto run doesn't do well enough. I'd suggest getting a trial version first.
http://www.arcsoft.com/products/panoramamaker/
I see from the web site the new version also handles RAW files.
My brother was telling me just a couple of weeks ago there's another program called something like "panorama factory"(???
) that a lot of guys on th photo forum he's on swear by.
Years ago I used to use Panavue, which did a great job but the trial version used to stick it's logo all over your image. Never tried the registered version.
Al.