That is very true about the panels. I am not a big fan of them either, but I really love the chassis design of a "Real" technic car.
It would also be kind of hard to put a working transmission into one of those smaller cars. But then again, these technic cars are quite larger, thus making it easier to install all of the goodies.
I think that the guy that build this model in question is all about studless design.
I suppose that everyone has their own preference.
That car in that link is awesome. I am not a big fan of stickers though. They just make the model look cheesy.
El Caracho has the best models that I have ever seen.
http://www.el-caracho.de/
If those cars were real sets, I'd be flat-broke. :-)