Yes...
I understand exactly where you are coming from. Panther (10.3.9) is the optimal OS for alot of these older G3/G4 machines. One of the things to consider with Tiger is that Tiger usually comes on a DVD, and some older G3 and G4 Macs only have a built-in CD-ROM drive (ie the older iMacs and such), so it's kind of hard to install Tiger on those machines. PLUS - Panther is a very stable OS in it's last builds (10.3.7 and later), and Tiger is a bit more of a resource and memory hog, and runs alot slower on the older Macs vs. Panther...by older I am talking about sub 1GHz Macs. Panther is the sweet spot for OS X on there...plus, you should have at lease 384GB and ideally 512GB running any OS X build. With Leopard 1GB or more is basically necessary, with 2GB being ideal, and 3 or 4GB being the sweet spot, but, as we know, Leopard's support for sub-1.25GHz G4s and all G3s is null.
Hope this helps.
-Ward