A game unit will represent a regiment. A Panzer Division (by around 1940) was made up of one armoured regiment, two motorised/mechanized infantry regiments and an artillery regiment, so a Panzer Division will be represented by four units in the game. (The recon, engineer, anti-aircraft, anti-tank and motorcycle battalions of the Panzer Division are not represented as they are too small for this scale).
The number of Panzer Divisions will grow as the game progresses as the core unit allowance increases. My house rules will be that I must always field full Panzer Divisions (not cherry-pick units from each). The Panzer Division complement must always exceed 50% of my total ground units fielded.
The rest of the ground forces will be made up of independent attached units (tending to be heavy and specialist regiments) and I will be limited to possessing a maximum of two of each unit type.
I will be using the most historically commonly-used units rather than rare/experimental units.
So here is my core, along with the units available for selection:
2-4 Panzer Divisions each containing:
1 x Tank: Panzer I, II, III, IV, Panther - whichever is strongest
1 x Grenadier
1 x Wehrmacht Infantry
1 x Artillery: 15 cm sFH 18, Wespe, Hummel
Attached units:
0-2 recon: any recons
0-2 heavy artillery: 17 cm K 18, 21 cm Mrs 18
0-2 heavy anti-air: 8.8 cm FlaK 36, 12.8 cm FlaK 40
0-2 heavy tank: Tiger I, Tiger II
0-2 tank destroyer: Panzerjager I, StuG III, Nashorn, Jagdpanther (maximum of one Panzerjager I)
0-2 anti-tank (towed): any towed anti-tank
0-2 assault-gun: StuH 42, Brummbar (maximum of one Brummbar)
0-2 rocket launchers: towed Nebelwerfers, Panzerwerfer 42, Wurfrahmen 40 (maximum of one each of towed Nebelwerfers, Panzerwerfer 42, Wurfrahmen 40)
0-2 self-propelled anti-air: SdKfz 10/4, SdKfz 7/1 (maximum of one SdKfz 7/1)
0-2 engineers: Pioniere
0-2 paratroopers: Fallschirmjager
0-2 alpine troops: Gebirgsjager
0-2 cavalry: Kavallerie
0-2 motorcyclists: Kradschutzen
0-2 bridge engineer: Bruckenpioniere
Aircraft:
I have set some rules for aircraft to keep them balanced along historical lines.
0-4 fighters: Bf 109, Fw 190, Me 262A. (The number of Fw 190 must not exceed 50% of the fighters; the number of Me 262A must not exceed 50% of the fighters)
0-3 tactical bombers: Ju 87, Bf 110, Me 410A, Fw 190, Ar 234B. (Only one allowed of each of Me 410A and Ar 234B. The numbers of any unit type must not exceed 67% of the tactical bomber complement, unless there is only one tactical bomber)
0-3 strategic bombers: Do 17z, Ju 88A, He 111H2, He 177A, Do 217E, Ju 188A. (Only one allowed of each of He 177A, Do 217E, Ju 188A. The numbers of any unit type must not exceed 67% of the strategic bomber complement, unless there is only one strategic bomber)

Regarding transport for the infantry, and whether they should be motorised (with Opel Blitz truck) or mechanized (with SdKfz 251/1 half-track). The theoretical Panzer Division (by the mid-late war) had one in four of their battalions mechanized and the other three battalions as motorised, which would mean half a unit out of the two infantry units in the game's Panzer Division at this scale would be mechanized. Things varied from the theoretical model in practise on the ground, although half-tracks were never used in great numbers. From wikipedia: "Of 226 panzergrenadier battalions in the whole of the German Army, Luftwaffe and Waffen SS in September 1943, only 26 were equipped with armoured half tracks, or just over 11 percent. The rest were equipped with trucks." (This number does include the many Panzergrenadier battalions of the Panzergrenadier Divisions, and I suspect that the Panzergrenadier units of the Panzer Divisions would have been greater priority in terms of vehicles and materiel than the Panzergrenadier Divisions). I did also read of one individual formation being fully mechanized but I can't find the source and I can't remember whether it was a Division or a Corps, but I suspect it was one particular division.
So in game terms, I think I will probably go for the Grenadier in each division being mechanized and the Wehrmacht Infantry being motorised. An alternative would be to have one division fully mechanized and the others motorised. The pionieres would more realistically be motorised - the theoretical model has them as 1/3 of a unit mechanized - but I might make them mechanized. After all, this Panzerkorps can be considered the Heer's most pre-eminent since it will be taking a lead role in all the major engagements of the war!
I have also modelled the Panzer Division at other scales (rather than game unit = regiment = 4 units). Regarding a game unit as a battalion produces a Panzer Division of 13 game units. It is possible to zoom further in, regarding a game unit as a single company which produces a Panzer Division of 52 units. I think that using the scale of a game unit as a regiment will work best for the single-player campaign as it has greater flexibility and also means one can ignore most of the light and light-medium versions of units (like artillery, anti-tank and anti-air) and thus build a stronger core.
For keeping track of the units I will use the following naming conventions: the Panzer Division units will start with a number prefix ('1.', '2.' etc); the attached units will start with a 'U.' for 'Unterstellt' (meaning 'attached/subordinate', although 'H.' for 'Heerestruppen' would be an alternative); the aircraft will have the prefix 'L.' for 'Luftwaffe'.
Does anyone know how the core slot allowance increases over the Grand Campaign scenarios?