I stumbled onto the Microsoft Image Composite Editor recently.
Just throw it a pile of images and automatically stitches them together. Even throws out photos that aren't part of the set.Super fast. It also can create panoramas from video. Pretty impressive little program. Says it can read RAW too.
Additional features - Accelerated stitching on multiple CPU cores - Ability to publish, view, and share panoramas on the Photosynth web site - Support for "structured panoramas" — panoramas consisting of hundreds of photos taken in a rectangular grid of rows and columns (usually by a robotic device like the GigaPan tripod heads) - No image size limitation — stitch gigapixel panoramas - Support for input images with 8 or 16 bits per component - Ability to read raw images using WIC codecs - Photoshop layer and large document support - State-of-the-art stitching engine - Automatic exposure blending - Choice of planar, cylindrical, or spherical projection - Orientation tool for adjusting panorama rotation - Automatic cropping to maximum image area - Native support for 64-bit operating systems - Wide range of output formats, including JPEG, TIFF, BMP, PNG, HD Photo, and Silverlight Deep Zoom