Photography gear buy/sell

It came with no datasheet but apparently it's an f3.9 lens at 38mm and speeds in range 1/3 to 1/400.

There's a little slidy switch that closes and opens the shutters to make it panoramic....

• Is that literally all there is to it?
  
• what does the neg come out like? are there black stripes top and bottom?
  
  

Are any 35mm panoramacamera users able to shed some light on this?
It looks to be of reasonable quality but there are about 10 buttons on top and a mode called fuzzy logic so I suspect that the chance of getting anything half-decent is somewhat remote