What would be the best way to determine the current overall health of a firewall? What system indicators should be constantly checked?
You can run CLI command > show system environmentals --- to check the individual component of a PAN firewall. As per my knowledge, you look at the SYSTEM logs under Monitor >> Logs >>System, it will show you all health related information, events on the PAN firewall.
There is an option to setup email alerts also : How to Setup Email Alerts
In my opinion You should consider about percentage of active firewall session and data/management plane utilization.
You can use SNMP (cacti/zabbix) for that or for just start Pan(w)achrome 0.7
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