Since getting FS2002, I've wondered about moving the panels. In Orbiter, on the ships that have panels, you can use the curser arrow buttons to scroll the panels right, left, up and down. This also gives you a full view out the cockpit window when you need it. Of course since I'm not a programmer I'd have no idea how to do it but it's something for others to think about (who can program it). You'd increase the available panel space by quite a lot.
If it's possible in FS2002 (and I doubt it is) no-one has come up with a way to do it yet with a 2D panel. With the advent of clickable V.C. panels in FS2004, the whole question could become adademic, but I'm wondering about the quality of the imagery. If it's as blurry as it appears in FS2002 V.C.s, it's not going to get a lot of use from me.
My own proposed method is a half way house. I'm working on hot spot movement between new fixed views that effectively move the point of view half a screen. In the Baron, I'd only want left, right, down and up, but in the B-52, I'm exploring having a number of views for the bombardier, navigation and possibly radio operator stations as well. All speculative at the moment, but that's the way I'm heading.