klm,

The panelview plus HMI requires Factory Talk View Studio (Machine Edition) to be able to configure.  I notice when I go to the create app dialog that there is a checkbox for creating a compact edition application so I would assume you can create one of those also.  I have never used the component version of  the panelview so I'm not even sure if the compact and component are the same thing.  There is a runtime simulation that comes with the Factory Talk (FT) software that will let you test your application by running it on your PC.  There is also a Machine Edition (ME) version that you can purchase to run on a PC instead of configuring it for the Panelview.  Last quote I had for the configuration software was around $750.  The ME version that runs on a PC is priced based on number of screens used and is a little expensive for what you get in my opinion.  Frankly I think the panelviews are a little overpriced.  A 10" PV is around $4500 and a comparable Red Lion is around $2000.  Those are rough prices but you can see a wide gap.  The red lion software is a free download and seems to be less buggy.  The component version of the panelview has not been out long enough for me to start speccing it yet.  I like to give these devices a little time to marinate.