The Panasonic 18650 batteries are one of the few models made in Japan as opposed to China. Many lithium-ion battery failures occur when tiny metallic dust particles found in ALL lithium-ion batteries are too highly concentrated in a single area within the battery. The eventual result can be thermal runaway. A PCB protection circuit will NOT help from this kind of failure. Additionally, PCB circuits have been known to fail, as one did on one of my Chinese made 18650's.
If you look at the statistics of lithium-ion battery failures, you'll see that most of the problems come from Chinese manufacturers who have a much higher amount of impurities (metallic dust particles). You cannot eliminate all the impurities in the manufacturing process, but you can certainly reduce them.
The Panasonic model CGR18650HG has a PTC element and a pressure release valve, both EXCELLENT safety features. This particular model has a capacity of only 1800 mAh, but again, this is done for safety. When you make battery capacity higher, you have to make the insulation protection plates much thinner...... a very dangerous trade-off. The Panasonic 18650 (model CGR18650HG) has received UL 1642 safety approval, something you will not see on Chinese made 18650s.
http://www.onlybatteries.com/showitem.asp?ItemID=15262
So, you can buy the Chinese 18650 models with PCB protection circuits, or you can buy the so-called "unprotected" Japanese made Panasonic batteries and drastically reduce your chance of failure in the first place. I tend to put my faith in the latter.