Just Published: 5th Edition of The American Heritage Dictionary of the English Language

Yes, the "celebrated" Usage Panel has been retained.

A Dictionary Updated, and a Campaign to Spread the Word. (The New York Times, 11/1/2011)

The Merriam-Webster and American Heritage dictionaries are the last two "prestige" brands still duking it out after all these years.  Here's a slide from a PowerPoint presentation I developed a few years ago.