No problem at all, actually, and the masking lines are clean, just like the frame borders on a rollfilm camera. The mask is close to the film, and it's a well-established technique. You should be able to turn up a few threads about it here.
For 4x10" pano format on 8x10" film, the mask is L-shaped, covering slightly more than half the frame along the long dimension (providing a margin between the two frames) with about an inch of darkslide left at the handle end to prevent light leaks through the light trap. Only one mask is necessary, since you can flip it for either side. This doesn't show the film rebate, but it's an example of a 4x10" I've made with a half-darkslide mask--
http://www.flickr.com/photos/davidag...7611396218001/
I think to make a pair of masks for 5x7" on 8x10" film you would have to cut windows in two darkslides, leaving some margin around the edges to make it work.
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