I've done some touring on regular road bikes, a Schwinn Tempo back in the day and more recently a giant road bike. On the Tempo I tried using racks and just lashing stuff to it, the wheels weren't meant for that and I broke spokes. By the time i got the giant I had bought a trailer, a yakima Big tow, which was a Bob clone. That worked much better in my opinion. Also looking at the specs for the Pacer, I think you would have heel strike issues with panniers due to the shorter chainstays than are found on a touring bike, they aren't as short as some road bikes, but still a potential problem.

btw if money for a trailer becomes an issue, drop me a PM, my big tow is old and much beat up but still hauls and I haven't used it since getting my Long Haul Trucker. Maybe we can work a deal.