The problem with this type of photography is that you're dealing with two vastly different scenes with vastly different lighting: the indoor scene with indoor light, and the outdoor scene with sunlight. The difference between a sunny day and a typical indoor light can exceed 10 stops or more; that is, depending on the time of day and degree of sunlight, the outdoor light can be 2^10 (1024) times brighter than the indoor light. This exceeds the dynamic range of all current DSLRs.
Thus, if you expose for the room, the outdoor scene will be completely overexposed, while if you expose for the outdoor scene, the room will be completely in shadows. One way to get around this is to make multiple exposures of the scene, and then merge them later. You could, I suppose, add your own light to the room (i.e. multiple strobes), but HDR is much easier in this case.
Frankly, I've seen indoor photos that have the window light blown out, and they're still just fine, so bracketing might not be absolutely necessary. But I find that the use of exposure bracketing and
HDR can really add to the final product.
If you're not into this type of fancy PP, then I would suggest just getting the best possible exposure for the room, and let the outdoor scene overexpose. As for the panorama, make sure you use Av (aperture priority) mode on your camera, so that the depth of field does not change as you pan and reset your exposure.