Agreed. Riot has talked about reworking him, and I am all in favor. A full VGU would give him a better identity than definitely-not-Spartan, modern visuals, and replace the targeted harass that has been making him oppressive in lane.
Options for Q replacement
--Stat nerf. Easiest to implement, with plenty of options. A longer cooldown would give lane opponents a longer window to last-hit or return harass, lower damage would make it less punishing, and a shorter range would let ranged champions trade with him. Also, can be done standalone.
--Skill-shot-if-ication. Harder to implement because it would essentially require making a new ability, but it would be more rewarding for skilled Pantheon players and leave their opponents counterplay. However, it would look a lot like Nidalee's spear.
--Total Replacement. Just take the spear throw away and replace it with something else. A knockback would be an interesting choice, shifting Pantheon away from early game poke-snowball to mid-game skirmishes.