laughed out loud when I was consulting your site the other day and realized you were the guy in that video!

I have a 24'x33' (12' sloped ceilings) live room ... a significant bump at 125hz ... My perception is that bass panel traps would be more efficient than simple 703 panels
Yes, wood panel traps will be great in a room like that.
do you absolutely recommend against freestanding/hanging panel traps with a 3/4" plywood or MDF backing?
You could make them free-standing, but it's much more work and they'll weight a lot more.
--Ethan