I haven't got my PAM Black Seal any longer (it went around 2007) so I can't do an immediate side by side comparison with the Monaco. I didn't enjoy wearing the PAM and it did feel large, bulky and uncomfortable.
At around the same time I bought an Omega PO in the large 45mm size and that felt large but not as large as the PAM - the PO went the same way as the PAM after a few years when I had to admit to it being too big and I was probably bored with it anyway.
I did have a thread up a few weeks ago asking advice on buying a Monaco and was told that despite its 39mm size it was a big chunk of watch, I took a chance and although it is big I found it superbly comfortable, it didn't leave my wrist for a good few weeks. In fact I liked it so much I bought a second one - a blue Monaco (CAW2111) with a third possibly on its way!
Really do like them and with a relatively short lug to lug distance they sit well on my wrist. I'm a big fan of them!