Snooping into a couple of Cave titles I've come to the conclusion that this means the playfield is typically ~24.1% wider than it appears, or going the other way around, that around 19.4% of the total available playfield is actually hidden outside the borders at all times.
In effect, this means a lot of (the majority of) vertical games are in fact almost quadratic in size (providing they are viewed on a 4:3 monitor), placing them somewhere between vertical games without panning and horizontically oriented vertical games (like Giga Wing).
Of course, this is common knowledge among shmuppers (at least without the exact numbers

What's confusing me is that when developers port their games to home platforms and reformat the screen to a 4:3 horizontal format, they usually retain the panning with some added letterboxing, when they could easily use the available playfield to fill out most of the screen. (for example Donpachi is a lot wider on Saturn than on arcade, but still pans left and right)
Why do you think they do this? The obvious answer could be to keep things fair, comparing scores with people playing the game in true tate mode, but I honestly don't think most developers think like that (considering a bunch of other things they tend to do), maybe the panning is considered an important part of the gameplay, or is it simply done for the visual effect (making the game look more smooth and less confined/old school)?
Since I'm currently developing a vertical shoot'em up I'd really like to hear people's thoughts on horizontal panning in vertical games, both from the perspective of a player and a potential developer, anything that crosses your mind.
How far do you think you can get away with panning the playfield? Would it become a nuisance if I exceeded the ~24%? Would you rather prefer to not have it at all, for a complete overview of the situation?
Does it even have any real effect on gameplay or is it merely cosmetic?
Would it be wrong to give people the option, when playing on a non-rotated monitor, to view the entire playfield without the need to pan, to get the most out of the monitor space? (while still panning in tate mode)
It may sound like I'm putting way too much thought into this, but when you're on the developer side of things, these things turn out to have more of an impact than you'd think.