Yes, the stub axle needs to be pressed out to change it.
The best alternative is to consider going over the hub with a race hat and building the rear brakes with that in mind, particularly if you feel the need to remove the rotor alot like on a race car.
It all depends on what you want out of your brakes.
On a street Pantera, what you have is all you need.
Talk to ZR1 Chris, at www.saccrestorations.net, who is on here. He has put together some nice package alternatives for brakes depending on how much you want to budget to them.
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