I'll take a crack, barometer.
Stereo is simply the fact of sound eminating from two sources at the same time - i.e., your left and right speakers. However, it was discovered early on that the amount of signal sent to one speaker versus the other can decieve the ears into thinking the signal is eminating from different points within the stereo spectrum.
So, for example, let's take a mono guitar signal as our source. If I put 100% of the guitar signal into the left channel, and 0% in the right channel, the sound will seem to eminate from the farthest left point (and in fact, it does). If I reverse the settings the sound will seem to eminate from the farthest right point (and again, it does).
Now comes the magic

. If I put an equal amount of the signal into both the left and right channels, the signal will
seem to eminate from the center point between the two speakers. In fact it is not, it is actually eminating from the left and right speakers - but it
sounds like it is coming from the center.
Now by varying the amount of signal reaching the left and right speakers, you can make the signal appear to "move" anywhere inbetween the speakers. This is controlled by your pan setting, which is simply varying (unbalancing) the amount of signal being sent to the speakers. Move the pan to the left, and more signal will be sent to the left than the right. The further you move the pan in any direction, the more unbalanced the signal becomes, until you have the entire signal being sent to just one side.
So far I've been talking about a mono signal. (I suspect some of your confusion may be the result of you recording your trackes in stereo rather than mono, since panning a stereo signal is a somewhat different animal). You can "move" a mono signal anywhere within the stereo spectrum, BUT it will still always eminate from a single point. That point can be full left, full right, or somewhere inbetween, but it is still a single point.
Sometimes, however, you want the source to "sound" wider. A piano is a good example. If you record a piano in stereo, you can have the lower register keys sounding from a different place in the spectrum than the higher keys. This gives the instrument a feeling of width - which in real life a piano has. If you stood in front of a piano in the real world, you would hear the lower keys coming from one side, the middle keys from the center, and the higher keys from the other side (at least if you're standing in the middle of the piano

). Recording a piano in stereo attempts to capture this width. If you recorded it in mono, all the keys would sound as if they came from the same spot. This would be fine if the sound you are trying to capture is that of a piano up on a stage. But if you're trying to capture a more intimate sound, with the listener in the same room as the piano, recording in stereo would be the way to go, as will better approximate the way the piano would really sound.
Most stuff is recorded as a mono signal - voices, guitars, bass, horns, etc. (although remember there are NO RULES!). It usually doesn't make sense to give "width" to a vocal, because that's not the way it sounds in the real world. Drums, piano's, and other instruments with real world "width," are a different story. Those you might want to consider recording in stereo. (In both cases, however, recording in stereo versus mono is based on the effect you are trying to achieve).
This was longer than I expected. Hope it helps somewhat.
Mike