Does DBXLOAD have the same cascading affect that using the panels does?
DBXLOAD will cascade like the panels since the program calls the repository IO Module.
For example, let's assume a Table->Column->Element connection exists in the Repository.
If you then execute a DBXLOAD 'Delete' job to delete the table, the table->column would be removed from the repository whereas the element would still exist.
For more information refer to Chapter 13 'The Batch Load Facility' in the CA Repository for z/OS Administrator Guide r7.