Mike, would suggest that you tempter your judgement a bit. The military has invested millions studying and working on programs to control panic (as they loose a lot of people they have invested a lot of time and money in to it). Some remarkable work has been done in the last couple of years (seal graduation rates, for example have more than doubled).
Several of the key points should be kept in mind:
1. Everyone can panic... everyone. The worst is someone that believes they don't or will not;.
2. What causes one to panic can be completely different for someone else.
3. You cannot control something you don't believe you will do, so the first step is understanding your drivers and your individual response.
4. Freezing is a type of panic... some people go crazy, some stop moving... same event, just a different response. Once should never judge one response as better or worse.
Having been thru the old military training... we lost a lot of really good people because at some point, they panicked. Today we know that they just got pushed over their individual limit.. and we all have one.
It cannot be stopped, but it can be controlled (in most people).
I'm also a combat vet, and have had that face to face "We are going to make it thru this" talk more times than I would ever have like to. Many of those same people were far better than I was later on.
I saw it happen to a diver I know to be both experienced in the water and a combat vet. It was ugly, and surprising as I had a lot of experience diving this guy and I felt we were on par when it came to handling stress. I won't dive with him again, and I don't spend a lot of time thinking about it as he did his damnedest to drown me in his flailing. I know I personally have not yet met a situation diving or otherwise that has caused me to panic (well, marriage, maybe) and while I agree that we all are probably susceptible it I spend a lot of time drilling in order to build muscle memory and automatic response for when things go sideways.
This isn't to say I don't experience fear. The front tire of my motorcycle blew out last week while I was doing about 80 mph on the highway. I was fairly convinced I was going to die, and I had a fairly healthy level of fear. That didn't interfere with my ability to make conscious decisions or take automatic actions to try and bring the bike under control. Since I'm typing this it's fairly obvious it all worked out, and although scary hasn't prevented me from riding.
While I am a fan of getting back on the (iron)horse should you fall off I think any diver who experiences full blown panic out to think long and hard about getting back in the water because I don't want a buddy who is going to flip out on me.
Michael