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I think whether or not you download what was meant to be a module or from PAN it does not make any difference.
If you are going to use the module, then it will only create a data base table with the xoops_prefix, but still does not make use of it. It does not use the XOOPS login system, And you will still need to install it as a stand alone, despite the effort to install it as a traditional xoops' module.(pls: correct me if i am wrong)
PAN will create its own database tables and you still need to configure it , 'separately from XOOPS ' it has it own login and when you create a client you still have to create a client separately .
So, in my opinion it is best to install the latest version from PAN, -their support forum is as active as this one here.
What do you need frrm PAN? Banners of all sorts to display on any site, and it will generate codes that you paste on your XOOPS site or just any site.
It requires a little effort at the beginning to learn how it works, but after afew hrs or a week or two, it is pretty exiting. If you want a complex banner system, then most will be that complex.
It worth the effort to learn and implement it, and you can really do many tricks with that.
You can use it to switch your logo in your header!!
Ah ! maybe if I had a right to request any extra features in the future xoops, I would have asked to integrate PAN ( or a fork base on it ) in the core system . 
