An image registration based method and a corresponding apparatus are provided for creating composite, panoramic images, in which consecutive ultrasonic image frames are correlated in order to derive transducer motion information. The individual images can be divided into several smaller sub-image regions and a fast and robust image motion detection algorithm is used to measure the sub-image motion and then to determine an initial estimation of the local motion vectors. The initial estimation is combined with two measurement parameters by use of a fuzzy logic technique to derive a final estimation of the local motion vectors. The final local motion vectors are then used to estimate global image motion. Compound images are then diplayed based on the derived global image motion. The speed of motion of the transducer is also estimated and a "speedometer" is displayed to help the user move the transducer within efficient speed ranges. Image frames may also be selectively "zoomed" in on and displayed in an undistorted manner. Distance scales are generated for both the normally curved panoramic image and also the undistorted frame images. A frame guide is also displayed to help the user guide the transducer to area of greatest interest. Color-coded velocity or power information may also be superimposed on the panoramic image, and spectral Doppler data may also be displayed at selected points in the panoramic image. A memory map is preferably also displayed to indicate to the user how much image memory is remaining during a scan.