Two things that weigh heavily in my mind:
One, the Panther comes with a buttpad installed, yes?
Two, have you ever heard the pop from a .22cal hitting an english sparrow, or better yet, the breast of a pigeon.
If I was going to spend money again, I'd go with a big slug and a buttpad. Unless you're gifted with a band saw and a keen eye, you can't put a buttpad on a 34 without it looking ... well, you know how it looks.