There are a few choices when converting angles of view with different aspect ratios. In
@dougpeterson's example, since you're describing a 75x40 rectangle instead of a 51x40, you can use the diagonal or the long edge, and these will give different answers. The long edge is a 47% increase (75/51) = 1.47. The diagonal is a 31% increase. (85/65) = 1.31. With a larger aspect ratio like 75x40 (almost 2:1), the diagonal is probably what you care about, and so the angle of view would be that of a 50/1.31 = 38mm lens. That is, a single image from a 38mm lens, cropped to the same shape as the panorama, would have the same image, only with fewer pixels.
The formula is (equivalent focal length of panorama) = (focal length of taking lens)*(diagonal of single frame)/(diagonal of panorama)
Plugging in the numbers here looks like 38 = 50 * 65 / 85
Best,
Matt
(If you
really want angles and not equivalent focal lengths, then it's 2*ArcTan( d / f ), where f is the focal length of the taking lens and d is the diagonal of the panorama.)