If you live in WNC, this is 100% worth the drive. Murphy NC is a hidden gem and this entire area is stunning. Panther Top is not heavily trafficked because of where it's located, making it a great place to go for a picnic or even a photo shoot.
The fire lookout was closed when I was there but you can still go up the stairs and get great views. You will need to hike up an old road that is gated off for about a mile or so. There isn't a ton of parking so you may need to get creative depending on if there are other people there when you choose to go.