Is my bulb going bad!!!!

Below is a link for the manual for your TV, that may help. Have you tested all the rails on the power supply?...are they all good and with minimal ripple? If you had caps bad I'd have to wonder if there aren't more that you didn't find that are bad, testing the voltages will tell you that. What do you get if you unhook the LVDS cable?..does the screen turn blue or do you still have the lines, kind of wondering if you got a bad timing board.
LG 32LB9D Service Manual

Your convegence has gone out. You can get complete kits with instructions from sites such as www.TvRepairKits.com or just the parts from www.ConvergenceChips.com . If you have never done this before i would suggest going the kit route since it includes step by step photo instructions and support.

yes, remove the lamp assembly and inspect for cloudy damage or glass fragments, if yes,, replace

usually when the lamp is going out the picture gets dark if you are getting a rainbow tint most likely the light engine is going bad.

If the red, green, and blue colors are separated like a rainbow, then the convergence amps are going out. This set has a common problem of two electrolytic caps going bad. The caps are in the upper left-hand corner of the main board and will have a bulged top if bad.
I would not think the picture tubes are bad, especially all at once.
- Dan

The convergence circuit is not working. There are bad solder connections on the flyback transformer and a small fuse has opened up. This is not easily done yourself unless you have a technical background but an RCA technician can fix this no problem.

I can help you out because I have circuit details of KP-65WV600but let me know what does it mean of blue rainbow lines?
I would appreciate if you post picture of those blue lines to understand problem of TV.
Thank you.

have the color wheel checked for damage

The PT-53WX54 is a standard projection set and does not have a bulb. It has 3 separate picture tubes. If you have lost the picture completely, not even on-screen menu, then something has stopped working in your set. It could be a video processor, vertical deflection or possibly a convergence problem. The set should be serviced by a qualified tech familiar with the Panasonic projection sets.

The convergence circuits straighten out the edges of the picture, putting the 3 colors exactly where they should be for the picture to look normal. There are usually 2 large IC's that handle the 6 convergence channels and if one of them burns out then one of the colors bends dramatically. If the power supply for the convergence circuits stops working, then all 3 colors bend in, the colors do not line up with each other and the image looks almost 3D, and the adjustments in the convergence menu will have no effect. I would bet that is the case with your set - the convergence power supply has quit working. If you do not have experience troubleshooting power supplies and realigning convergence circuits in projection TV's then allow a qualified tech to handle it for you.