Render area setting problem

[mrplans]

I shoot 8 shots at 0 deg (horizontal) ever 45 deg using a full frame camera and a 17mm lens. When I try to render a cylindrical QTVR, I get a movie showing the black hole at the bottom and top. See V1.mov.

When I try to "Define the render area" in the render area option, I get a movie that's properly cropped BUT it starts zoomed in. See V2.mov.

I've tried several different options to have it open at the proper size but I failed in all attempts. I need your help immediately as a client is waiting for me to upload these panoramas immediately.

Thanks.

v1.mov

v2.mov