How do I choose the best placement for the panel and sensors?

The nice thing about the WisDom is that it is technologically advanced enough to be able to tell you (via a numerical rating) how strong the signal is from each sensor, so that you can choose the optimal location for each sensor and not have to worry about signal strength.

Typically you want to install your main control panel in a somewhat hidden location (so that it cannot be instantly destroyed by a burglar).  You want the system to have enough time to call out prior to encountering the risk of damage by an intruder.   If you are very concerned about the risk of the panel being destroyed too quickly, you can disable the siren so that the panel is silently and discreetly contacting you (or your monitoring service) without giving away its location to the intruder. 

Or, to conceal the location of the panel while still having a siren, you can make the internal siren on the panel silent and add a RSSET Remote Siren Control Set (http://diycontrols.com/product_info.php?products_id=211) or an external wired siren (http://diycontrols.com/index.php?cPath=41_74_108) so that the siren is heard elsewhere in the house, away from the panel.