The Panther wasn't an MBT...the closest WWII equivalent would be the IS-2.
I don't see how you can put anything second to the T-34 (in WWII) in terms of cost effectiveness. It's the second most produced tank of all time and was, by all accounts, pretty much your ideal vehicle when it came to squeezing bangs from bucks.
EDIT:
Of course, we're talking favorites here, so I don't guess stuff like that matters :P
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