Yeah, I have a Pantera with a Swinger 3-way also. It pedals great - no bobbing at all. Mine is not as "plush" as other setups I've tried on the bike (Vanilla R and Cane Creek Cloud 9), but pedaling efficiency is really great.
I think the Pantera is probably the stiffest and strongest 4" travel single-pivot you can buy. It's much stiffer than the Santa Cruz Superlight. I've ridden a Heckler too; the Pantera is comparable (but different too). No one except the most jaded trend-surfer would claim that the Heckler is obsolete. Same for the Pantera. Believe me, it doesn't feel obsolete on the trail.
The Pantera is only an outdated bike if you feel you must have the "trickest" thing out there. I'm sure there are subtle deficiencies compared to a Saltamontes or X-5 (or the competition's equivalents). But a single-pivot bike has real advantages too - 1 pivot vs. 5 or so, depending on how you count it.
The problem with the Pantera (it's been stated on this board before) is that the average Ventana buyer has the wherewithal and the desire to get the absolute best. So the Pantera was seen as the "economy" version. In a way, the Pantera diluted the exclusivity of the brand. Usually, big market-driven companies create separate value-driven and luxury lines - Honda-Acura for example.