Panels or Context module?
I prefer Context module in most cases. I find it simpler and less heavy-handed than Panels, which takes over entire pages. A good use case for Panels is when site admins will be rearranging landing pages themselves or for sites with a lot of unique layouts.
I pick between Panels and Context for a given site when evaluating wireframes or designs. In some cases it makes sense to use both.

I can usually handle the Views arguments I need within Views itself (often by setting the default argument) and don't need the Panels side to do it.