Nearly every image I've shot in the past 4 or 5 years has been a macro panorama. Most have also been focus stacked with thousands of individual images. The biggest difference between what I've been doing and what is required for this project is the difference between orthographic stitching and spherical stitching. Spherical stitching nearly always requires some overlap (10% to 20% or higher for macros) in order to warp the individual frames to fit the projection. The stitching software will usually require landmarks to do accurate stitching. Orthographic stitching on the other hand will not require any overlap if the XY positioning is accurate to 1 pixel. However, for the absolute best results, lens abberations will need to be corrected before stitching, so some overlap will be desireable to enable blending the seams. Good orthographic stitchers allow you to set the XY coordinates for individual frames and/or allow the individual frames to be warped to fit. AutopanoPro and Microsoft ICE do this (I'm not sure about PTAssembler or PTGui and PhotoShop just hasn't worked well for me as a stitcher).
Featureless areas may not have much contrasting detail, but they may have subtle color shifts that are quite visible from frame to frame. Blue sky is one of the hardest things to stitch, not because it's featureless, but because of the color variations. Stitching software can be set to blend the colors between frames, but then you have to ask, is that the same image I would get by using an enlarger? The stitching and focus stacking software can also do a good job of evening out the exposures, but again it's a question of how accurately do you need to reproduce the image. I see quite a bit of variance in the light from my flashes especially when the batteries start to get low, but you won't see it in the final stitched image.
The images of film shown earlier in this thread have proven beyond a reasonably doubt the resolution of a DSLR with a good macro lens is more than adequate for the task. I think the only remaining questions are how can you reliably move the film or camera and how can you ensure even lighting from the first frame to the last and how much tolerance is there is in each of these to get an acceptable final image? Yet another question is how much post-processing do you want to do? I usually inspect each seam at 100% to 200% and manually blend the incongruities. The current crop of stitchers has reduced the manual blending required significantly. The more accurately you can move the film or camera and the more stable your light source is will determine how much post-processing you need to do. Manual movements will probably require more post-processing, but the end result should be very nearly the same.
Another gratuitous sample: http://photosynth.net/view.aspx?cid=...a-3f46feefa9c5
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