on cars(what i work on everyday and wrench on my own road course mustang) the basic principle of the 4 link on a solid axle car is obsolete compared to a 3 link or IRS setup. the panhard rod can be used on both a 3 link and 4 link setup to control the roll center of the rear end during corner loads.
most cars that do run a panhard rod use them because of inconsistent bushing deflection and improper ride characteristics. my mustang for instance is a perfect example. the 3 link benefits over the 4 link are that you have a more plush ride and control over the roll center of the rear in relation to the suspension during corner loads. as the cars weight shifts the 3 link can react quicker and the driver can adjust accordingly since the rear is centered by the panhard rod. the 4 link setup if "soft" will float around and hunt for traction during high corner loads. both setups are inferior to the IRS cars but right now there are multiple setups that are equal to an IRS in terms of counteracting corner loads.
if your looking for an rc situation i would think that a monster truck would benefit from a 4 link due to suspension design and travel. most onroad cars have limited suspension travel while monster trucks have almost unlimited suspension travel making the 4 link and ideal suspension setup. the 3 link on a full travel suspension would limit the amount of travel for jumps and such but also make the truck unstable during opposite side load off camber situations. most monster jam trucks exhibit this when they hit a set of cars off to one side and the truck wants to catch and roll, if they had a 3 link it would always be on the lid.