How to run a successful panel session at a conference?

Well it's that time of year again where I need to prepare for the Australian Oracle User Group (AUSOUG) conference series. This year I've the opportunity to run a panel session at the conference in November along with another presentation.

Having never run such a panel session before, I was hoping readers who have participated or attended a panel session could give advice on the following please?:

1) What to prepare for?
2) How to run the actual panel session?
3) What makes for a successful panel session?
4) What makes for a panel session disaster?
5) Is there any equipment that is essential?

I guess there is the obvious stuff like organising your panel members, and making sure they turn up, but I'm sure there's more others could suggest beyond the basics.

Any help and advice appreciated. Please leave comments in the blogs comments section and I'll publish them.