Good news, after testing 5 tools to program ARM processors, I decided to stick with the Keil solution, which is free for programs up to 32K of Flash. Not bad. And its very easy to setup and use and supports the LPC2387 processor which is the same on the FEZ Panda; note that not all compilers/ide supports this processor.
Thanks to the help of JDAL I was able to understand several things in just a few hours. Its still a PITA compared to an Arduino, but still, very fast after you understand a few things up.
And I love the fact the LPC has I2S which is great for Audio!
If anyone wants, I could post some codes and more links and info, just ask.
Best Regards, WilliamK