I dunno, you can buy 5 $35 raspberry pis for the price of one $200 pandaboard. $200 approaches the territory of being plausibly enough to build or purchase a full PC.
The RPi might be the soup du jour, but it's an incredibly frustrating device to get your hands on. At least the Pandaboard can be placed in my hands; for all I know the RPi might not even exist at all.
I have 2 of them, one each from the 2 places taking preorders on day 1 and I wasn't first in line or anything. I got both of mine about the middle of June and they didn't cost any more than expected.
If that works for you then awesome.
However, if you want something that is more in line with today's mid to high end phones then the Pandaboard probably comes closer.