1) No and B) How much memory will you need for that? Insert Sandisk Extreme Ducati 8GB for 6 pics. RAW only. RAW+JPG = 5 pics.
i have seen this before somewhere... or something similar to it. ridiculous amounts of detail at hugh print sizes, but not too practical as far as i can tell. seems pretty cool from a tech standpoint, though.
here's a link to the article that i was referring to (note the assembly time to make the final pano): http://www.tawbaware.com/maxlyons/gigapixel.htm just google gigapixel image and lots of pages come up.
Lensrentals actually has one of these you can rent. The only caveat is that you have to post at least one final image per week, because it's part of a beta program. Seems pretty cool, but it only works with a limited list of P&S cameras.