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Pretty good list, Woohoo, but I'm curious:
Why do you think the OP needs a diesel 4x4? Unless he's going to try to drive from Santa Fe to the Atlantic, 4wd isn't really necessary. (I have a 4x4, and in 4+ years driving in Panama, I've used the 4wd exactly one time, and that was when I was looking at some remote property in the Azuero.) 4x4s are much more expensive to rent, and the fuel economy is lousy. And as soon as you take that 4x4 off-road, your insurance is null and void. And diesel costs just as much as gasoline. Given the Panamanian style of driving, I'd rather have something a little smaller and a little quicker than the diesel is going to be -- as you know, we're very aggressive on the road.
Second, the OP didn't lay out his exact itinerary, but there's no reason at all to rent a car while you're in Panama City. In fact, it's a hassle and unnecessary expense, given the dirt-cheap and plentiful taxis. Better to wait until you're ready to leave the city, then rent a car from any of the many, many agencies around town.
Back to the OP: In a month, you can see a lot; this is a small country. I'd drive from PC along the Pacific, maybe sidetrack up to El Valle for a night, then do the loop through the Azuero, back up to David and Boquete (and maybe Volcan), then back to PC.
With a month here, I think you should at least see the Atlantic Side, even if you don't spend a lot of time there. For first-timers, Bocas del Toro is probably best: lots of nightlife, and plentiful water taxis to take you for day trips to other, quieter islands with better beaches. You could drive from David to Almirante then ferry to Bocas, or fly from either Bocas or PC.
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