It all depends on your terminations. If you're soldering, or using screw terminals, you'll be fine. If you're crimping on connectors, then plan on wiring that matches your connectors. On my first panel, I used cat5e as I had an abundance of it at my disposal. I will NEVER use it again. It's twisted, so harder to make look nice, it's thinner, so I had to double or triple it up to get the connectors crimped on (what I thought was) solid, but even still they'd give me a couple loose wires.
This time making the panel, I bought a 6$ roll of wire, and everything went MUCH smoother and connections are now MUCH more solid. I went with a bit heavier gauge (18awg), just because it was MUCH cheaper than anything else the store had. It made things more difficult when it came to daisy chaining, but some creative wire twists got me there.

Cat5e
Versus:
18AWG
