I think the immediately preceding post missed the spec that:
We want to record live one shot. We are not multi tracking.
The original poster is, as he says, recording straight to two-track. In this application, he could just as well be using a stereo mixdown deck. What he's doing is recording "left" onto track 1 and "right" onto track 2.
Panning, ultimately, is really an "artistic" decision. There's no right or wrong. If this were a cookbook, it would say "pan to taste." Personally, I would tend to pan these things, at least somewhat. If you've only got one drum mic, I'd probably try panning it to one side. Probably no farther than "3 o'clock" or "9 o'clock," though. Maybe try the guitar the other way. Whatever works. I'd probably wind up with the lead vocal pretty close to the middle, though.
This isn't a wildly unusualy way to record: I think it used to be somewhat common in the days when four was considered a lot of tracks. One thing you might consider is recording just the backing stuff (no vocal) live, in stereo to track 1 and 2. Then overdub vocals onto tracks 3 and 4. Or you could dub vocals onto track 3 and another guitar part onto 4. Or not. Whatever. When you mix down, you pan track 1 (band, left) hard left, track 2 (band, right) hard right, and 3 and 4 "to taste."
One note: if you think you might want everything dead center in the middle, you can always do that when you play back. You can eliminate (or narrow) the panning decisions you made when you recorded the band live to two tracks -- at mixdown, you just bring tracks 1 and 2 in from hard left and hard right.