Super loop! In early summer my boyfriend and I hiked Panorama Klettersteig and on descent missed the path. Instead of heading to the saddle on picture 32 we followed green marks that led us straight down, descent was quite steep and demanding, quite some hanging on cables for friction, not for short legs. According to map we descended Gebirgsjägersteig, which should have B/C rating? Anyway, for descent I recommend the easier or your Ari Schübel variant.
Path sketch Interesting and very useful is the info on difficulty of your second day's path. Still waiting for us
