Hi Greg,
I much prefer the single frame over the pano. When I first saw the pano I thought it was great but this single frame is excellent!
On my screen (at least) I can see plenty of detail in the falls i.e. Rocks, water flow, colours and shadows. The Sky and the the galactic centre's colours and detail are just how I like it i.e. blues, yellows, orange and a hint of green.
Side by side the sky in the pano has more of a purple hue which I don't like as much.
I agree with Michael, the Milky Way in the pano loses it's proportions.
What a great looking location Greg, well done love it!