I just got one of these. I was driving down the street 2 days ago and saw a bike with a "Free" sign out by the curb. Stopped and saw it was a Panasonic LX. It seems to be 54cm or maybe 56cm, no rust, looks all original; maybe even the tires! Everything seems perfect on it, but the rear wheel needs truing. I may do it myself (need practice) or take to the LBS.
I would say that it is in better shape than iTod's find. I can post some pics, but it is a twin to iTod's. Not sure exactly what I will do with it. It is slightly small for me, but okay for my son.
Anyone know what years they were made or how to date the serial numbers, etc.?