I did panel first but this is my second RV. I have a good handle on what goes forward of the firewall and where and I am making CPC connections for all the electronics, so I can completely close out the fuselage before hanging the engine. Once the engine is in place, making the connections back to the firewall (controls and plumbing as well) won't take a lot of time. I also found the cowling and spinner not to be that difficult. I expect to take about a month after arrival of the engine to be ready for first flight.
On the other hand, wiring is going to take a while. I have A/C, built-in oxygen, 2 axis servos, 3 axis trims, two EFIS AHRS and magnetometers, AOA, lighting, ELT, electronic ignition, door latch sensors, interior lighting, headset jacks, power outlets, etc. Along with finishing the composite work for the overhead, cabin top, and doors (necessary to coordinate with the wiring), I expect to take pretty much until Spring before I am ready to move on to the firewall forward. And even with Aerotronics having done most of the work behind the panel, this is still one task I would not want to take on with the forward deck, cabin top, and top forward tailcone skin in place.
Not that I disagree with those who have done it the other way around; this is just what works for me - my own style of working and fitting to my construction plan. It seems to me that either way you do it, you have to do some planning for the part that is missing; you can't install an engine without planning your panel connections and, vice versa, you can't install the panel without planning your engine connections.