I agree with MXChaos and Lilya (btw, lilya, thx for the PM). Meds helped me a little but I didn't make any real progress with my anxiety until I started therapy. Understanding the anxiety and the things happening in my mind that cause it was really helpful. Therapy also taught me some really useful techniques to minimize the anxiety and keep it from turning into full blown panic. Daily meditation and tai chi have been a life saver.
I still take meds, but I've never been on klonopin, so I can't tell you about that. But as to the question,"Does it ever end?" my answer is that you can live a good and happy life without panic but it takes work and patience to get there. I don't think you will find a magic pill that will cure you overnight. My recommendation is to find a therapist/counsellor that specializes in panic disorder and join a tai chi or yoga class and get a book about meditation and practice every day.
Good luck.