OK. You don't want to drive your own car to downtown but we really did like Panama City. It has a lot of attractions like the quaint Casco Viejo, the Amador Causeway (rent a bicycle !), Ancon Hill and the action at the Panama Canal locks are just awesome.
Getting around is easy and taxies are cheap. We always felt safe.
Now, it does get a little HOT from say 11 am to 3 pm but that beats 4 below zero in Toronto.!