I spent 6-7 hours on a private Panama City tour with one of the Marios. He picked me up at the airport and dropped me off at the hotel. He was a great source of information on his city and country and a good conversationalist. It made for a full day and it did allow me to get a good feel for the city and its people. It's just you and Mario, so you can determine your own pace of schedule and itinerary.
Seems like a very solid option if you have 1 day to spend in Panama City. Great value for the money!
My one suggestion is that if you visit the ruins of Old Panama and if it is cloudy, then take a rain jacket or umbrella with you. I did not. After walking several minutes towards the Site, there was a 10 minute downpour that left me soaked (and my passport, wallet, phone, and camera dampened). Fortunately, I had my luggage in the car so was able to change into dry clothes.
Thanks again Mario for showing me Panama City!
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