I think the textbook setting is:
Shutter - depends on you
Aperture - set to F8 is best I think, to ensure background is nicely blurred and the most details in the foreground subject can be captured nicely. But up to you, experiment with what works.
Key skill is the actual panning but must be ultra smooth from start to follow-thru.
So far that's how I get my panning results. but anything below 1/60 shutter speed and the whole picture is blurred! So was wondering, is VR/IS necessary???