Madmage,
I would use original non rectified images and use Fisheye camera model in PhotoScan. I have done similar projects with Phantom Vision FC200 camera and using Fisheye model does it better than trying to undistort images with Adobe LightRoom lens profile correction for example and then use these undistorted frame images in PS.
Thanks pap1956, given your pixel size, the reconstruction it's much better! How do you computed/retrieved that value?