The main drawback of an intensity-based pan-pot is that you must be at the optimum listening position to perceive the intended sound image. Any movement of the listener destabilizes the soundscape. Truality Panning creates a more stable image and a sense of aural depth. There is always sound in both channels (appropriately conditioned), even when panning to the extremes. I never liked the thin clinical sound emitting from one loudspeaker only.
TruPan is an Audio Plugin (VST Windows) that uses a combination of filtering (head shadow effect), delay (precedence – Haas effect), and level manipulation (Intensity variation). I used various techniques to minimize phase (Mono compatibility) problems. For the intended use, I believe the results are quite acceptable. Sure, not suitable for pink noise panning! Trying to replicate how we perceive directional cues, is not an easy task, especially with only two channels.