Even with the Canon 5D Full Size Sensor and Sigma 8mm you waste a lot of pixels to black but nowhere near what the 4.5mm Fisheye on the APS-C Sensor. 4 (Drum) shots on my 6.3MP Canon 10D APS-C with Sigma 8mm Fisheye gives larger final panoramas than the Sigma 8mm on the 12.7MP 3 shots on the Canon 5D. (taking more shots will not increase this of course because you are just adding "only" to overlap)
OK, the truth is 4 shots on the APS-C sensor camera is enough to cover the full 360x180 panorama except some small patching of the Nadir (bottom) after tilting the camera lens up 4 to 5 degrees to close the Zenith (top) totally.
While I agree with the faster shoot and minimal shots, masking with alpha channels will deal with people moving etc and with a bit of planning and shooting in the direction of "flow" you can minimise double ups.
I don't want to put any Fisheye lens down "I Love them all" I own many and possibly will add a 4.5mm to my collection but it should always be pointed out what their short comings are and as good as this lens appears to be the fact it wastes so many available pixels is a shame. It is a real pity you cannot "zoom" with this lens.
If you want decent output size and quick shooting with minimal shots you need a Sigma 8mm or "Shaved" Tokina 10-17mm Zoom Fisheye and Canon 5D, Canon 1Ds or "Shaved" Nikkor 10.5mm Fisheye & Nikon D3.
Regards, Smooth