Wow, I downloaded that software, the Hugin one.
I'm currently stitching together a 24 pic 360degree panorama and so far it has processed 2 of the images and that took about an hour?!?!
The way it creates the preview is deceptively quick because it uses very low res, small size images.
This is the first one I've done so I was messing around a bit with it. I can't wait to see what the final result is like.
I found out that the globe style pictures from that website were done with a 15mm fisheye lens which exaggerates the curve of the rendered image.
I'm going to experiment a bit more with this software though

Thanks for the link!