I was never disappointed in this construction unbelievable wounding and the tanks fall from this build you will see a couple of changes in the additional ones yet. sry my bad English language:)

Changelog




11/03/11
I've changed evasion seals for HP per lvl seals. They are, from my point of view, much more useful than evasion ones. In early game, when laning, you realy appreciate that extra HP per lvl with Panth. Furthermore, in late, game you end up with over 4k HP with life elixir and these HP seals which are great in order to have more AD when completed the build with Atmas impaler.
(over 350 AD)

06/06/11

Since last nerf, Panth has become extremely weak in early, yeah even more than before. This build continues to work however Panth's early gameplay must change.
Before the nerf, laning bott lane with an apropiate partner was the best option, however, now Panth must seek to go mid lane if possible. Get some kills in 1on1 ( as Panth is a great 1on1 char) and look for some ganking in top or bott lanes using your ultimate/teleport
Early Game (1-8lvl)


Basically Early game on Pantheon is really booring.
First of all when you wil have 3rd lvl your ganking abilities will instantly raise up (You have stun now !)
When someone will have really low HP just go to him with Shield Hit (i don't remember the Ability name so don't bother me with that)
and then simply youse the rest of your abilities to finish him (possibly if you have exhaust it will be alot easier to do it.)
As soon as you will reach 6lvl jump in with ulti for ganks, but care about the accuracy of your ulti you need to predict what will happen (that you will learn when you will play some time with this champion)

Mid Game (9-13)



At this stage you should become an OP champion
When you will have The Bloodthirster your abilities will strong kick of damage. That will let you eat opponents.
But be aware of ganks on you you almost don;t have health.

Late Game (14-18lvl)


That stage is the most important so i marked it on red color
Tactic is pretty simple, when you see that there is going to be Team Fight, tell all your tanks to rush in to the circle and jump on the enemies head (that combo is supper effective when Nunu uses his Absolute Zero skill.
You will still have pretty lame ammount of health. So still be aware off ganks on you you will be easy target so predict future check map, and use some Wards.


Spear Shot - Pantheon hurls his spear at an opponent, dealing damage.
Pantheon hurls his spear at an opponent, dealing 16/28/40/52/64 (+) physical damage (100/115/130/145/160% of his total Attack Damage).
Cost
45/45/45/45/45 Mana
Range
600
Aegis of Zeonia - Pantheon leaps at an enemy and bashes the enemy with his shield, stunning them. After finishing the attack, Pantheon readies himself to block the next attack.
Pantheon leaps at the target enemy champion and deals 50/75/100/125/150 (+1) magic damage and stuns them for 0.7/0.9/1.1/1.3/1.5 second(s). Pantheon also instantly refreshes his Aegis Protection.
Cost
70/70/70/70/70 Mana
Range
600
Heartseeker Strike - Pantheon focuses and unleashes 5 swift strikes to the area in front of him, dealing double damage to champions. Pantheon also becomes more aware of his enemy's vital spots, allowing him to always crit enemies below 15% health.
Passive: Pantheon gains 100% critical strike chance against targets below 15/15/15/15/15% of their max health.

Active: Pantheon focuses and deals 5 swift strikes in front of him for 4/6/8/10/12 (+) physical damage per strike (20/25/30/35/40% of total Attack Damage). Deals double damage to champions.
Cost
70/70/70/70/70 Mana
Range
400
Grand Skyfall - Pantheon composes himself then leaps into the air to a target, striking all enemy units in an area. Enemies closer to the impact point take more damage.
Pantheon gathers his strength and then leaps high into the air, crashing down at the target area a few seconds later. Deals up to 400/700/1000 (+1) magic damage to units at the center (down to 33% at the edge) and slows them by 35% for 1 second.
Cost
150/150/150 Mana
Range
25000
Aegis Protection - After attacking or casting spells 4 times, Pantheon will block the next incoming basic attack.

9 Greater Mark of Desolation I do not waste the word on this rune basis requirement at the Spartan one.
9 Greater Seal of Vitality I am so with him that with him that rather life than mana regen helps to make an edge more capable the Spartan in wounding his space.
9 Greater Glyph of Cooldown Reduction a little cd of reduction never does harm at the gank.
3 Greater Quintessence of Desolation well runes

I choosed 21/0/9 always was been positive effect for K/D/R stat +more gold, some mana reg and solo the magicians easily they flicker only on the damage. :)
positive effects of crit at late game when one hits the enemys.
11/0/9
i saw it a couple of other builds but so unnecessary to make more point spent to utility that it hurts already less wounding only more regen nothing more. Those builds useless if you want to do sg or
18/9/0 off-tank build but panth will be a hit for the enemy in the late-game seriously useless and no damage.

First item Doran's Blade more hp dam and ls useful for fb or just hit the enemys with spear.
I choosed Mercury's Treads if 3 cc's or many magicians in other team but optional the Berserker's Greaves if no need more magic resist and never bad for panth some attack speed.
The Brutalizer ouch this item useful for cd reduction and armor piercing against everything.
Last Whisper this item useful if need more armor penetrate even more help to cause damage on tank and one hit the papers:)
Bloodthirster incredible damage + life steal the best item for 1v1 and save your life in 5v5 fights.
Infinity Edge get more damage make you unstoppable key object in this build crit+damage awesome for panth but other optional item Black Cleaver this item choose if need againts morde or rammus no need other tanks or make easily kill xin zhaoˇˇ I notice if you choose Black Cleaver you must buy Berserker's Greaves and Phantom Dancer because need attack speed for the damage in late-game.
Final item Youmuu's Ghostblade speed speed speed awesome item late-game but I was never able to buy it because the game understands an end always.

For getting out of ganks, starting ganks, repositioning yourself in team fights, jumping over walls. Such a great spell.
Makes catching and running from enemies so much easier.
Makes going toe to toe with those annoying champions even easier, also slows annoying runners. (Get the offense talent for it).
Getting to end game and spending every fight in 5 seconds of CC isn't conducive to your mental health.

Standard Burst: (if no need ult)
Aegis of Zeonia ===> Heartseeker Strike ===> Spear Shot ===> Spear Shot

Or if they have Banshee's Veil spear shot defuse his bubble:)

Spear Shot ===> Aegis of Zeonia ===> Heartseeker Strike ===> Spear Shot

with ult: (while you used Grand Skyfall after click Aegis of Zeonia for mixed combo)

Grand Skyfall Aegis of Zeonia ===> Heartseeker Strike ===> Spear Shot ===> Spear Shot