Well I rendered two 360's out in Terragen. One the test as 80 individual 600x300 (not very detailed or good but enough for lighting) and the more wise 22 images at 90 mm 1000x1000 and used them to light Octane Models ... Small detail is low I wanted to finish before my great grand children draw their pensions. Still took several days for each 360.
Finding a right position on some hill is very labour intensive too in the more canyon like landscape. I can now understand why someone whose 360 i saw while researching had choosen a flat open area as the centre point. I had planned a more alien like landscape for the grey one. Maybe doing very small 360's would be enough as I saw it in some HDRi's.
Apologies for any uncanny valley issues, I still like them though ..
http://en.wikipedia.org/wiki/Uncanny_valley