Well, if you open circuit the panel, each cell maxes out at about one diode drop, 0.7v or so, so you really can't tell what the cell is capable of by using a very high load resistor value.
If you short the cell, the Isc should vary with illumination but this also doesn't tell max power level, only max current level.
And you can't use the max. power xfer idea, where the load resistance = the internal resistance, because the internal resistance varies.
So, I guess keeping the load voltage at less than 50% of max. open circuit voltage will give some reasonable approximation to the max. power available.