I have to say that Ebay was really good during this minor tussle. They demanded that the dealer in question refund my money and they even took a portion of it from him and added it back to my Paypal account, the remainder to be refunded as soon as I returned the worthless books, which I did.
This latest issue I got (from a more reputable dealer) is classic Harvey Kurtzman material. I will assume that he did the layouts. Much of the material seems to have his hand in evidence. But the bulk of the book was illustrated by Will Elder and Jack Davis, both of whom did their usual exceptional work. Davis, in particular shows his talent, but I have to think that Elder was filing off the edges of his art here--I think that while Kurtzman and Gaines intended Panic to be pretty much a carbon-copy of Mad, they were making some minor moves to tone down the harsher aspects of the humor of Mad in favor of appealing to a wider audience...or at least a slightly different audience. Unlike Mad, the last few issues of Panic received the Comics Code Authority approval. But obviously the sales were not up to Mad's level and the title was snuffed out.