I also believe Panik can do much better than this season. There have been so many Caps player under performing in the Reirden-years, while everyone going elsewhere have excelled. Its more likely coaching change can get some guys back on track, and Panik can definately be that guy.
For the same reason I favour bringing Kovalchuk back, and moving Panik for whatever to make cap space for Kovy. Kovalchuk is Still the ultimate low risk high reward guy. The kind of guy that even when he is not playing that great everyone is rooting for him to success and brings leadership. And if he can get hot at the right time..
If Kovy doesnt work out its easy to get rid of him closer at TDL and try to look replacement via trades.