Panorama Point
You know the scene in Charade where Cary Grant and Audrey Hepburn are staring right at the missing fortune and don't recognize it? Hikers who walk past the trail to Panorama Point are making the same mistake. There's no sign identifying the trail, but curious hikers who take this detour of a mere hundred meters or so will get to see one of the most memorable spots on the entire Panorama Trail. The view opens up across the canyon to Half Dome, North and Basket Domes, and the Royal Arches, with Mt. Hoffman (still encased in snow here) off in the distance. You can also spot hikers making their way up the Mist Trail just before they get to the Vernal Fall footbridge.
The dropoff here is Taft-Point sheer, but unlike Taft Point, there are no guardrails at all, owing to a 1977 rockfall that removed part of the point and left the railings dangling over the valley. (Though the point has been derailed, you should still be able to find holes drilled in the rock where guardrails used to be.)