I've had one now for nearly a month. Nice bike to ride, and the gears do help on hills. Unlike a lot of the cruisers out there this bike can be ridden on surfaces other than dead flat tarmac.
Quality does leave a bit to be desired though, things like the chainguard are very flimsy, and the brackets on the fenders have been screwed on crooked. Small things, but you expect better on a bike costing over $500 (in Australia).
I would recommend one though. My other choice was an Electra Straight 8, but these things are almost $1000 in Oz, and less rideable than the Panther.