Start with my HX1 post: I can show you the world
Now that you have some basic understanding, let´s see what the HX5 can do.
You have 4 sizes to shoot panoramas:
2 landscape and 2 portrait sizes
my favorite mode is portrait large
5 x 2 k pixel gives you a nice 10 MP picture
This is like having a 180 degree fisheye lens all time with you!