diff --git a/panopoly_magic.module b/panopoly_magic.module
index 7f34b51..ab008f3 100644
--- a/panopoly_magic.module
+++ b/panopoly_magic.module
@@ -7,6 +7,15 @@ define('PANOPOLY_ADD_PREVIEW_DISABLED', 2);
 define('PANOPOLY_ADD_PREVIEW_DEFAULT', PANOPOLY_ADD_PREVIEW_AUTOMATIC);
 
 /**
+ * Implements hook_ctools_plugin_directory()
+ */
+function panopoly_magic_ctools_plugin_directory($owner, $plugin_type) {
+  if ($owner == 'ctools' && $plugin_type == 'content_types') {
+    return 'plugins/' . $plugin_type;
+  }
+}
+
+/**
  * Implements hook_init()
  */
 function panopoly_magic_init() {
@@ -246,44 +255,45 @@ function panopoly_magic_form_alter(&$form, &$form_state, $form_id) {
     $clicked_button = empty($form_state['triggering_element']['#value']) ? '' : $form_state['triggering_element']['#value'];
     if ($form_id == 'fieldable_panels_panes_fieldable_panels_pane_content_type_edit_form' && ($clicked_button == 'Update Preview' || ($form_state['op'] == 'add' && empty($form_state['input']['form_build_id'])))) {
 
-      // Determine the current VID for the element
-      if (!empty($form_state['entity']->fpid)) {
-        $current_vid = db_query("SELECT vid FROM {fieldable_panels_panes} WHERE fpid = :fpid", array(':fpid' => $form_state['entity']->fpid))->fetchField();
-      }
-
       // Run entity information through standard submission form if this is a new or updated object
       // Update the pane settngs with the VID afterwards
       if (!$form_state['entity']->reusable || $form_state['op'] != 'add' || $form_state['rebuild'] == TRUE) {
-        // Process the entity to create a preview. Set the FPID to be the correct version. We need to 
-        // generate a fake set of values to avoid notices from FPP as per http://drupal.org/node/1791734.
-        $default_values = array(
-          'language' => '',
-          'title' => '',
-          'link' => '',
-          'path' => '',
-          'reusable' => '',
-          'category' => '',
-          'admin_title' => '',
-          'admin_description' => '',
-          'revision' => '',
-        );
-
-        if (!empty($form_state['values'])) {
-          $form_state['values'] = array_merge($default_values, $form_state['values']);
-        }
-        else {
-          $form_state['values'] = $default_values;
+        // Process the entity to create a preview.
+        
+        //
+        // This code is copied from fieldable_panels_panes_entity_edit_form_submit():
+        //
+
+        $entity = $form_state['entity'];
+
+        // Copy hardcoded fields.
+        $entity->title = $form_state['values']['title'];
+        $entity->link = $form_state['values']['link'];
+        $entity->path = $form_state['values']['path'];
+        $entity->language = $form_state['values']['language'];
+        $entity->reusable = $form_state['values']['reusable'];
+        $entity->category = $form_state['values']['category'];
+        $entity->admin_title = $form_state['values']['admin_title'];
+        $entity->admin_description = $form_state['values']['admin_description'];
+
+        $entity->revision = $form_state['values']['revision'];
+        // Only set a log message if there was a new revision. This prevents
+        // overwriting a log message on the current revision
+        if ($entity->revision) {
+          $entity->log = $form_state['values']['log'];
         }
 
+        field_attach_submit('fieldable_panels_pane', $entity, $form, $form_state);
 
-        fieldable_panels_panes_entity_edit_form_submit($form, $form_state);
-        $preview_subtype = 'vid:' . $form_state['entity']->vid;
-        $pane->subtype = 'fpid:' . $form_state['entity']->fpid;
-      }
+        //
+        // End code copied from fieldable_panels_panes_entity_edit_form_submit().
+        //
 
-      // Properly adjust the VID if we are dealing with an existing object
-      if (!empty($current_vid)) {
-        db_query("UPDATE {fieldable_panels_panes} SET vid = :vid WHERE fpid = :fpid", array(':vid' => $current_vid, ':fpid' => $form_state['entity']->fpid));
+        // Define the content type plugin to use for rendering the preview.
+        $preview_type = 'fieldable_panels_pane_preview';
+
+        // Stash the entity stub for the preview content type.
+        $pane->configuration['fieldable_panels_pane'] = $entity;
       }
     }
 
@@ -331,7 +341,7 @@ function panopoly_magic_form_alter(&$form, &$form_state, $form_id) {
       // inside form and double rendering.
       $form['#post_render'][] = 'panopoly_magic_form_post_render_preview';
       $form['#panopoly_magic_preview_info'] = array(
-        'preview_subtype' => isset($preview_subtype) ? $preview_subtype : NULL,
+        'preview_type' => isset($preview_type) ? $preview_type : NULL,
         'pane' => $pane,
         'configuration' =>  $configuration,
         'keywords' => $keywords,
@@ -470,7 +480,16 @@ function panopoly_magic_ajax_update_preview($form, $form_state) {
  */
 function panopoly_magic_form_post_render_preview($output, $form) {
   extract($form['#panopoly_magic_preview_info']);
-  $content = (empty($preview_subtype)) ? ctools_content_render($pane->type, $pane->subtype, $configuration, $keywords, $args, $context) : ctools_content_render($pane->type, $preview_subtype, $configuration, $keywords, $args, $context);
+
+  // If no preview type was specified, render the pane as normal.
+  if (empty($preview_type)) {
+    $content = ctools_content_render($pane->type, $pane->subtype, $configuration, $keywords, $args, $context);
+  }
+  // If a preview type was specified, use that to render the preview.
+  else {
+    $content = ctools_content_render($preview_type, $pane->subtype, $configuration, $keywords, $args, $context);
+  }
+
 
   // Create the fieldset with appropriate content
   $preview = array(
diff --git a/plugins/content_types/fieldable_panels_pane_preview.inc b/plugins/content_types/fieldable_panels_pane_preview.inc
new file mode 100644
index 0000000..a6e8ac5
--- /dev/null
+++ b/plugins/content_types/fieldable_panels_pane_preview.inc
@@ -0,0 +1,43 @@
+<?php
+/**
+ * @file
+ * CTools content type to render a fielded panel pane preview.
+ */
+ 
+/**
+ * Define content type plugin just like Fieldable Panels Panes does.
+ *
+ * @see fieldable_panels_panes_fieldable_panels_pane_ctools_content_types().
+ */
+$plugin = array(
+  'title' => t('Fielded custom content (preview)'),
+  'no title override' => TRUE,
+  'description' => t('Preview for created custom panels pane with fields'),
+  'category' => t('Fielded panes'),
+  'all contexts' => TRUE,
+  'defaults' => array(
+    'view_mode' => 'full',
+  ),
+);
+
+/**
+ * Callback to render our content type preview.
+ *
+ * Render FPP based on entity stashed in configuration for the preview.
+ *
+ * @see fieldable_panels_panes_fieldable_panels_pane_content_type_render().
+ */
+function panopoly_magic_fieldable_panels_pane_preview_content_type_render($subtype, $conf, $panel_args = array(), $context = array()) {
+  $entity = $conf['fieldable_panels_pane'];
+  $view_mode = isset($conf['view_mode']) ? $conf['view_mode'] : 'full';
+  if ($entity && fieldable_panels_panes_access('view', $entity)) {
+    $settings = field_bundle_settings('fieldable_panels_pane', $entity->bundle);
+    $block = new stdClass();
+    $block->title = '';
+    if (empty($settings['extra_fields']['display']) || !empty($settings['extra_fields']['display']['title']['default']['visible'])) {
+      $block->title = !empty($entity->title) ? filter_xss_admin($entity->title) : '';
+    }
+    $block->content = fieldable_panels_panes_view($entity, $view_mode);
+    return $block;
+  }
+}