Honestly is there a story? Sure it has but at the last 2 episodes. As for the other episodes, its just ghost/devil of the day coupled with bitchiness of those two angels also the bizarre episode featuring Chuck. Honestly, it has good elements but Gainax didn't take this show seriously. Its just full of movie parodies that I didn't find funny. Sure I enjoyed the sex jokes and even laughed a bit but its not enough. Thank goodness there's the action to make up for everything. Of course before the action, Panty and Stocking has to undergo a transformation, I know the guys definitely enjoyed that since Panty & Stocking (in their non chibi form) are stripping their panty and stocking respectively.
At the last episode I found myself shaking my head with the ridiculousness of that 'sex on air'. Can you believe it I laughed at that scene. Oh let's not forget the quote of the year by Garterbelt: "GOD MY OH!" lolz that was hilarious.
Overall, do not expect much of the story but you can count on some comedy and of course the bad ass action. I was really surprised at the last episode since it was open ended and they even said that its to be continued on season 2. *Shrugs* I don't know if its true or what and I also don't know if I'll watch its second season.
Is there a character development?
It's my first time to see a Japanese anime take this kind of approach. It really reminds me of the style of Powerpuff girls but the animation in this one is more revamped and is very stylishly done. Oh let me remind you guys that even if I mentioned that it reminds me of Powerpuff Girls it doesn't mean that its for kids, oh for goodness sake don't let children watch this thing. I think its thanks to the animation style that I wasn't disgusted with this series despite of it being an ecchi one since the characters are really cute and everything is brightly colored. During the action scenes, I was so amazed with the animation since I always found myself coming face to face with the monitor 'cause I don't want to miss any of the action. Oh I like the part too during the transformation since we get to see Panty & Stocking in their full anime glory looking so hot and sexy. Another unique aspect of the animation is the use of real life explosions when the ghosts have been destroyed.
The sound of P&S is certainly worth the perfect score. Though, I don't really like the OP song that much but I got to admit sometimes I sing it without realizing what I'm doing (Ack the effect of "Last song syndrome"). The ED song on the other hand is a very catchy though when I try to understand the song somehow I find it didn't fit with the whole series since its a sad song. Earlier, I was able to listen to some tracks of the P&S OST that was uploaded by a YT user named Animeeeentos and so far my favorite would be CHOCOLAT feat Mariya Ise (courtesy of Moetron) too bad it was immediately removed *sigh*. Oh if I could only buy the OST in a local music store I would. For now I'm waiting for someone to release a torrent of the OST. Oh I almost forgot to mention that in one of the episodes they featured a music video like second half and I also love the song DCity Rock that was played there and coupled with parody of some artists/music videos (some of which I recognize), that was really awesome.
Well yes I enjoyed P&S somehow and I think its mainly of the soundtrack and the action. Most of the jokes and parodies are not that funny though, I have to admit I laughed at some. What kept me watching week after week is the hope to see one bad ass action from Panty & Stocking that is coupled with good OST, somehow I'm satisfied with the series since most of the episodes are filled with action I'm asking for.
I think this show is not everyone's cup of tea since not all people could tolerate a show full of green jokes so if you dislike ecchi shows and episodic shows then better to avoid this show.