The frame is 65mm wide, 1.8 the width of the 24x36mm format. So an XPAN lens is equivalent to a 35mm camera lens of about 55% of its focal length, where horizontal coverage is concerned. Thus the standard 45mm lens is equivalent to a 25mm on a 35mm camera. The 30mm XPAN lens covers as much horizontally as a 17mm focal length on a 35mm camera. So Bill, the focal lengths you mentioned, 15mm and 21mm, are just about the equivalent of the 30 and 45mm XPAN lenses--horizontally. Thus your estimates of 15mm and 21mm are pretty close.
Another difference, of course, is a bigger negative, allowing a higher quality picture. My wife noticed the difference immediately when I projected an XPAN slide in my Hasselblad projector, compared to the cropped 35mm slides blown up to the same width.
Finally, shots taken with a wide-angle lens such as a 21mm or 24mm often include too much foreground or sky; hence the need to crop to a pano format.
Parkes Owen's comments about how the pano format prevents pushing the main subject into the distance is another way of making the same point. With the excess foreground and sky cropped out, and the picture enlarged proportionately, distant objects can then be more prominent.
Hope that makes sense.