Nuknows Panasonic is well worth restoring.I'd do exactly the same thing given the choice.The dropouts on the P look the same as Nagasawa uses?,and what a beautiful seatstay bolt clamp.Just look at the build quality.
Nuknow you've got enough to keep you going for a while :o).You have great taste sir.I love the style of the seat stay bolts(on the Panasonic)Looking forward to seeing the complete build/s.
^?