You have to to think like this......

There's no such thing as 1 or even 2 Panerai. Once you start you'll end up with at least 3 or a dozen.

Do you want your collection to look like you have 80% small seconds model? (Luminor Marina) Because most Luminor comes with small seconds where only a few are without. The logo (PAM 000), The PreA (PAM 002, 009) and the PAM 210 (2 lines) variety that house in Luminor case.
Eventually you will want a base logo (PAM 000) unless you go PreV. I would be cautious about not trying to sell my watch too often because 90% of the time is taking a loss unless it's a super rare watch but we're not taking about that.
You should ask about the owner who do own both the PAM 000 and the PAM 005 and ask them in the end which one do you keep. The answer would surprise you.
If you can stay just with 2 panerai
A PAM 000 and PAM 210 would be my choice. I didn't do it because I found out I can't stay with 2.
I need four. LOL
A Sub: PAM 64 aka La Bomba

A Mare Nostrum: 5218-301/A

A Radiomir: PAM 232 still hunting

A Lumonor: PAM 36

See what I mean when I say there no such thing is only 1 Panerai

Regards
Tyler
The more I read about the post, the more I question my decision. Hahaha...
It seems that most of you all opt for the 000 model huh?
Alas, 000 is not available, I made off with the 005 model. I wanted to believe it's still a viable choice.
I haven't own any manual winding watch before, so this will be a good time to see whether I "mind" the daily winding 
Personally, I actually don't like the logo on PAM000, it doesn't balance with the top part bearing the Luminor wording and the bottom part with Panerai and Logo. PAM005 looks more balanced, as there're 2 lines on top, and 2 lines (well, 1 line and 1 logo) at the bottom.
Yes, I'm trying to convince myself it's a correct decision 
Anyway thanks for the advice guys. Really appreciate it.