I recently rode my buddy's 2013 1199 Panigale R and everyone else is right on the money about it being uncomfortable. I bet it would help to get a nice Corbin seat but the riding position is extremely aggressive (this coming based on me riding an xb9r, a couple different cafe racers, and an 848 Evo).
The bike is much light than I thought it was and the cornering was actually really nice. But, make sure you are used to having a bigger engine and your throttle control is very good. I can see how the bike can get away from you with just a little accidental twist of the wrist.
Overall, the bike is a work of art and is fun to ride as long as you are not just doing straight roads and are not planning on riding longer trips. I would recommend an 848 or an 848 Evo if you want more power. I have ridden an 848 Evo quite a bit this summer and the bike feels exceptionally light. It is much lighter than the Panigale and still has more than enough power for me (140 hp). Also, the Evo has the upgraded Showa suspension as a standard option (the one I have been riding had the Ohlins suspension upgrade) and steering dampers (but, the full electronic adjustment system on the Panigale is pretty sweet).
I like both the Panigale and 848 Evo but in my personal preference and what matches my riding style I would say go with the 848. It is much lighter and more more manageable than the Panigale and stepping up from a monster it will be a total difference. The nicest change you will notice is the wet clutch vs. the monster's dry clutch (unless you are rising an S4R which doesn't sound like it is the case).
Hopefully that gave you a little insight but if I wasn't clear let me know and I can go into more detail.