If you use the 5-pack bundle, realize that the software that came bundled with your machine (games, office software, whatever) won't be installed.
Panther out of the box is just the OS with all Apple applications, but no more.
You can install that software later from your software restore disk, but you may lose some of the authorizations/registrations (GraphicConverter for example, reverts to unregistered status).
-s*