Stone is a better all around player but you'd have to factor in for the tax break he gets in Vegas so 10.5-11 is reasonable.
Still, people need to expect him to end up in Florida, which unless hes fixated on NY has more to offer him than we do. We shouldn't be sniffing around for high end UFA's this summer unless we can snag one of the top centers out of this draft in addition to Kakko.
If we get Panarin (which I've made clear I don't think will happen nor should we) of course I'm going to root like hell for him and he'd be exciting to have. But, I think it's just a poor allocation of resources.
It is true that Panarin has relatively low mileage, has been healthy.etc. This doesn't mean he's immune from declining or busting or becoming injured, but it does make him a lesser risk, and it'd be bad faith to suggest he's the same as a Brad Richards.etc. Still, 7 years at 77M is an incredible investment to make in a position that is both a non-premium position and one that we have an organizational strength at. We have Kakko, Buch, Kravtsov, Chytil, and then Andersson, Lemieux in a tier below.
If there was a Panarin-esque player (meaning the same level of eliteness, lack of mileage, durability concerns.etc) on defense available, I'd be much more sympathetic towards splurging. Especially if he was a RD. We have a lot of prospects on defense, but none that are currently sure things. They aren't even close to the same likelihood of success as our our forward prospects.
Kakko is a franchise level prospect, and the rest in my list (minus Kravtsov, who played against men) are already in the NHL. On D, Miller is probably our best bet for an elite/very very good player, but all he has had so far is a very good D+1 in college. Not yet playing against men.
Accordingly, there is a very high likelihood that we'll need to acquire a top d-man externally when the time comes to chase the cup. If Kakko and Kravtsov work out (which is probably going to be necessary for us to succeed, with or without Panarin), I don't want 11M per year for Panarin as a third quality to stop us for splurging on an elite d-man, especially when those tend to be much harder to find.
It's not a lot for us now, but it may be when we have to (hopefully) pay guys like Kakko, Kravtsov.et al in addition this theoretical stud defender. Or even a stud center if we go d-heavy in this/next draft after Kakko.