Crikey, that's a difficult question!
Ok, As you no doubt know, Clown & LF plecs are peckoltia and of course Royals are panaque.
What makes then panaque or peckoltia and not one of the other 68 genera from the loricariidae family such as panaquolus, hypancistrus or hypostomus is a number of factors such as habit, habitat, & size, right down to tiny details such as shape of teeth, number of spines in the fins and even placement of body plating.
I don't think that there one major feature that means you could say "This is a Panaque because ****** "
I shall do more research....
**edit**
Ok, found this so far, but it's not much help!
It seems that there are currently around 550 species of 'pleco' in about 70 genera within the Loricariidae family.
Each of these genera has it's own selection of species, some have hundreds, such as Hypostomus and some, like Metaloricaria, only have a couple.
The genus Panaque currently has 10 confirmed species, and the genus Peckoltia has 9 (and one still undecided)
So know what are the characteristics a fish has to have to make it fit into either of these two genera rather than any of the other 68?
What is unique to a Panaque that maks it a Panaque?
What do Peckoltia have that no other genera have?
Google was no help so far.
I shall continue my research......