That said, the caption is incorrect:
From the low elevation and fisheye view, you can tell this image was actually taken by the front hazard avoidance cam, which is mounted on the lower part of the body. The Pancam sits 3-4 feet higher up on top of the mast and has a slightly zoomed in lens.Spirit's Panoramic Camera captured the rover's Instrument Deployment Device above as moved to get a closer look at an outcrop of rocks named Hillary.
Actually the hazcam's are black-and-white, so this was probably colorized with data from the Pancam, but the angle definitely gives away the source.
I also noticed on the rover homepage today an announcement that Opportunity had surpassed 10,000 meters (6.2 miles) of driving. One of the original mission goals was for each rover to cover 600 meters (3/8 mile). Rock onward, righteous robot dude!