split/divide main content region to columns or create another custom layout
After hours of searching, I was lucky (and persisent enough!) to come across this: http://www.youtube.com/watch?v=gmX2jnH9Kdg which describes how to achieve what I am after using panels indeed. I feel covered by that excellent video. I can leave my Q up for anyone frustrated as to how to translate his/her layout to dynamic drupal code