A panel performance testing system and method of use is provided for evaluating creep and duration of load (DOL) performance of products, particularly wood-based panels, subjected to bending stress. The panel performance testing system comprises a panel testing support frame assembly; a loading head assembly for applying test load to a panel face; a load transfer assembly for transferring load force from a dead weight to the loading head assembly; a panel deflection sensor; and a mobile loading platform assembly for vertically positioning and supporting dead weight loads, controlling the rate of load transfer of the dead weight loads from the loading platform assembly to the loading head assembly, and an integrated data acquisition system that automatically records and processes the related testing data for the entire course of the testing.