I'm still playing around with the little Aoka tripod and RRS BPC-16 mentioned above but so far I really like that setup, especially the head. The tripod wouldn't be my first choice if it was my only tripod but it is a great value for the price. It's very short, so if you look at it just know you'll be sitting to use it. I like my Promaster xc525c for most stuff but the Aoka is solidly built and super light. It also comes with a tiny ballhead but I didn't care for it much after playing with it for a minute so I haven't touched it since.
I don't own one, but I noticed you can buy a clone of the RRS BPC-16 on ebay called the Leofoto MBC-20 for about a third the price as well. I don't know if it would be as smooth but the weight would be similar and that's keeping things really light and it also helps if you are on a budget. If you get one, let us know how it performs.
I know the OP mentioned they want a panhead, and all these options are ball heads, but I personally like a ballhead with a built in panner for most things. Maybe I'd change my mind if I had a bigger, heavier scope or camera, but for how I use it a ballhead works great for binos, the little Kowa, and my small DSLR camera. If you are set on a panhead, the best value options I know of are the Promaster SPCH20 Cine Head or, stepping up in price and quality a bit the Sirui VA-5. Outdoorsmans panheads are probably better but you'll also pay a lot more for them.
I can also vouch for giving Cameraland a call, they'll hook you up.
