Panning is the sound you send from center stereo to mono sides in FL. The panning is based on how high your sound will stay there. How high your sound is already in mid and side frequencies depends on how it also is panned in mono. Pitty as it is with FL.
As for example, a 6dB sound acts as 6dB stereo. But while you change it to 50% left, it will sound 7.5dB at left and 3dB at right.
Though you need specifically know that panning is increasing sound from stereo to mono at one side, reducing it on other as well. That is the problem with FL where it makes it mono. But the side frequencies remain intact somehow but are reduced.
“So you might say panning in FL is different as placing the stereo in 360degrees side frequencies.”
The tendency with 360 degrees stereo left 180 degrees and right 180 degrees is very different.
Stereo has placement possibility. For anyone who does it right, the sound will travel from right to left like when you hear with an airplane.
For example, you are recording in the field with Zoom recorder but in stereo. Already then you can somehow already record the placement of the sound of an airplane, and hear in your headset the right placement. But indeed, if the two mics are placed 180 degrees from the point of your recording.
A very unique sound processing plugin that can do works with stereo sound in 3D is freqshifter, you might as well adapt to Creative soundcard with 3D emulation for your soundset.: