Once you have a 2-axis gimbal on your quadcopter, it becomes really easy to take aerial panoramas. I sent my DJI Phantom quadcopter up into the air on GPS lock mode with the GoPro 3 camera taking pictures in timelapse mode—1 picture every 2 seconds. I spun the Phantom around once, capturing a full spin (360º) in 6 pictures. Then, I stuck the pictures into AutoPanoPro, and it automatically generated a panorama (Adobe Photoshop’s Photo Merge would probably have worked just as well).
Prior to using a gimbal, I tried taking aerial panoramas, but my horizons were always all over the place, making automated panorama-creation tools fail often.