If one was using a long tele on a 617 (or even 624) will not get you anything that resembles a panorama, and even more so when you turn it 90 degrees. I don't think subject is a good measure of the cameras panoramicness at all. I might not like the limit running at 2.5:1 instead of 2:1, but that doesn't make it a worse description of what a "panoramic camera" is all about.

Also, I don't think panoramic is tied to film size - a 3:1 Minox is just as panoramic as a 617.