Hi Montrealer,
living in Panama i can tell you that even though you wont drink so much, you can still eat a lot at the all inclusives.
As far as non all inclusive i suggest the Playa Bonita. check there web site
www.playabonitapanama.com/It is NOT cheap, but its new, and fresh.
There is another all inclusive i like better than Decameron, its called Playa Blanca Resort. Its smaller than Decameron but i found the quiality the same, and its more cosy IMO. web site is
www.playablancaresort.com/The other worthwhile resorts are on islands.
you would need to do your booking ASAP since we are no on high season, and it gets very hard to get a room.