I don't wee any problems, per se, with your plan. I don't know too much about the affect of the Mutar on image quality. What I do know is that you'll end up using such a small part of the film. Have you considered using the Rollei panorama attachment and going full-frame (6x6). Only thing you'll have to do is assemble or stitch the frames, which you won't have to do with your current plan.