Well yes and no... typically if a well formed tripod cap is achieved it means most likely the rest of the panorama is stitched properly.
You can get real close to having a 'perfect circle' tripod cap and still have virtually no stitch errors in the remainding part of the panorama.
The perfect circle is only a goal... besure to balance that with what the balance of the image looks like in terms of seam issues.
To be honest ? Over the last 9 years (1998) I have yet to get a first time 'perfect stitch'. There will always be a very very minor stitch issue that will either be ignored or corrected in your favorite photo editor.
OH wow.. you just reminded me... we will have to celebrate our 10th year in the panorama business soon.
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EasyPano - Panoweaver