What you are looking for is the PAM 111h. As Pugwash said, don't worry about the strap that is on it because rep straps are garbage. You will want to buy another strap when you get it.
There are 3 different versions of this watch.
One has the chinese copy movement in it, no AR (anti-reflective) coating on the crystal. The crystal could be either saphire or mineral glass. As far as I know the movement is good and I have not heard of any serious problems with them. This model looks and feels just like the others with the exception of the things it is missing. The price is usually from $100 to $160
The second has a swiss movement and can either have AR coating or not. It is a dependable movement and the same thing as the third versions movement, but does not contain a swan neck regulator. This watch looks and feels just like the others, minus the swan neck. You can find these for $200 to $280
The third has a swiss movement with swan neck regulator. the swan neck does not really do anything, but the watch does look more accurate from the back. This version always has AR coating. This version looks and feels the most accurate, but the main difference in the look from the second version is the littel swan neck. You can find these for $250 to $380.
For straps, you can find cheap ones on ebay for around $30. However, I would wait for one of Elliots "Big Balls" offers and spend around $50 to $100 to get a strap that is just amazing. If you want something a little more exotic you can go with a Hktan and get a completely custom strap.
WARNING
Just a word of caution.....If you have an addictive personality in any way shape or form, DO NOT buy a Panerai or a strap. These first ones will not be your last. Even if you can make it through life with only one Panera, the straps will get you and you will suddenly find that it is very important to have the neon green sharkskin strap that someone is offering.