My 2 cents (YMMV): I have shot with most Panoramic cameras down through the years. Let's compare the Noblex, Widelux and the Horizon.
In order of image quality:
1. Widelux, just slightly better than the Noblex
In order of build quality:
1. Widelux, 1960's bench made Japanese quality
2. Noblex, some plastic, but well constructed and engineered
3. Horizon, typical Russian build quality
In order of ease of use:
1. Noblex, swing shutter mechanism can be "exercised" manually without wasting film
In order of price/quality/availabilty quotient:
1. Horizon, damn good viewfinder at the lowest price with slow speed selection
2. Noblex, slow f/4.5 lens and restricted shutter speed selection in lowest priced version
3. Widelux, restricted shutter speed selection
The optics are all pretty good. The Widelux is the best wide-open. Noblex runs a close second.
The Noblex requires batteries... not a good thing IMO.
The Horizon is the most difficult to load and rewind.
The Widelux is the most compact to carry.
The Horizon has the most optical distortion close-up.
Bottom line: If you want to play...buy the Horizon...it's cheap and fun and if you don't like it you can sell it for a minimal loss. YMMV.