I've had a few Panasonic plasma's throughout the years and I still even have a Hitachi Director's Series plasma (which I have to say, blows every plasma on Amazon out of the water, but it's also $7,000).
The Panasonic TC-P54S2 (the 54" display in the S2 line of plasmas) is a truly breathtaking television. The G25 line is more expensive and does offer a slightly richer and deeper black than the S2 line (among other, totally unnecessary features), but it's barely noticeable when the S2 plasma is broken-in and calibrated correctly. It's very important that you break-in and calibrate this display. (Check AVS Forums for the calibration slides, which should be run non-stop for 100 hours - then set the settings found in a sticky thread to get the best possible image quality for this display).
There's no buzzing sound like another reviewer said, the display runs cool for a plasma, the colors are vibrant, rich, deep, the contrast is breathtaking (especially compared to so many LCD's that lack a deep contrast like plasmas) and it is just a great display. Did I also mention that it's below $1,300? I remember a friend of mine spending $22,000 on a Marantz 65" plasma which today looks like pure garbage. It's disgusting.
In addition to being a videophile, having a degree in Digital Editing and Cinematography and working for a film production company (where we use $15,000 Sony Professional Reference monitors) I have to say that this is truly an outstanding display product from Panasonic. I've spent a few hours enjoying a 50" G25 series and won't lie that to the trained eye, certain blacks seem darker and deeper - however, to 99% of you out there, you'll never know the difference.
The new neo-PDP plasma technology also helps many things from the last-year S1 series plasma technology from Panasonic. Many bugs have been fixed, the plasma display itself is better and Panasonic actually listened to their customers on multiple issues.
A great tv, but please make sure you break-in the display and calibrate it correctly. 5/5 stars, I would buy 3 more of these if I had room in my house.