It makes sense to mix with any pan law setting you want providing you don't change pan law midway through the project otherwise you'll be needing to adjust all your relative levels again after the change, because you'll be taking into account what pan law is in play whilst you mix because it will sound right and all you change with the pan law is the relative gain structure between L/R and Center.
Set it and forget it unless somebody wants to share work on a project with you and has a different pan law in play or you do a fair bit of automation involving panning and your current settings are not working for you with that.
Wiki puts it like this.
The idea is that when one directs signals left and right with the pan pot, the perceived loudness will stay the same, regardless of latitude. http://en.wikipedia.org/wiki/Pan_law So yes the -3db setting is a common one, but if you are collaborating with other Sonar users you might want to check what pan law they are using so your mixes interpret in the same way as theirs.
As for mono compatibility that's another different subject but for your simple example you can reduce the width of your X/Y signals by panning anything less than 100% hard left and right but of course too much and your carefully recorded stereo image will start to become more or less central again.