Best practice for duplicating panel content when duplicating a node.

This is what I've ended up with, which works, though I'm not sure how efficient it is:

    // Clone the node.
    $new_node = clone $node;
    
    // Prepare to save.
    $new_node->nid = NULL;
    $new_node->vid = NULL;
    $new_node->created = NULL;
    $new_node->path = NULL;
    $new_node->files = array();

    // Process the panelizer if there is one attached to this node.
    if ($new_node->panelizer) {
 
      // Set variables and remove current panelizer, which will give us a new panelizer object.
      $panelizer = $new_node->panelizer;
      $display = $panelizer['page_manager']->display;
      unset($new_node->panelizer);
      
      // Create a new display to add to the panelizer.
      $code = panels_export_display($display);
      eval($code);
      panels_save_display($display);

      // Save the new node in order to set a new panelizer object.
      entity_save('node', $new_node);
      
      // Load the new node to get the new panelizer information.
      $new_node = node_load($new_node->nid);

      // Set new values for the new panelizer node.
      $new_node->panelizer['page_manager']->display = $display;
      $new_node->panelizer['page_manager']->new = TRUE;
      $new_node->panelizer['page_manager']->did = $display->did;
      $new_node->panelizer['page_manager']->entity_id = $new_node->nid;
      $new_node->panelizer['page_manager']->entity_type = 'node';
      $new_node->panelizer['page_manager']->link_to_entity = $new_node->nid;
    }
    
    // Save the new node.
    entity_save('node', $new_node);