I ended up with a Makita 14.4v. It was a much better value for the money especially because as of this writing, Makita is offering some attractive rebates. Also I liked the feel and balance of Makita better. The Panasonic has a huge and heavy battery while the Makita's battery is lighter (but probably doesn't last quite as long). Subsequently, the Panasonic felt like a brick was attached to the handle. Also, the case that comes with the Makita is much better-more sturdy and better designed (although larger) than Panasonic's cheapy case. Further, the Panasonic battery charger is much larger than the Makita one.

This kit comes complete with the drill, a black plastic hard case, 2 batteries and charger.

Panasonic isn't thought of as a power tool company, but their cordless drills are the best I've ever used, bar none. They've got the fastest recharge rate- 15 minutes- and that translates to more time drilling and less time recharging. It also translates to longer battery life; the less time spent charging, the less the heat buildup, and that's what kills these batteries. I know my friend has been using his on a daily basis for over five years with the original battery. The Panasonic drills also seem to get more useful drilling out of a single charge, something that recent tests by one magazine confirm.

My current 1/2" Makita is still going strong, but if it should happen to give up the ghost, I'm replacing it with a Panasonic.