I was thinking long and long about this.
I think what makes the PGA Championship so significant is the fact that it's the last major of the year. "Glory's last shot". If you fail to win it then you have to wait until the following April for the next chance (and that's IF YOU GET into the MASTERS).
Also, in the pre-Fed-Ex Cup era, to me, the PGA Championship signified the end of the golf season. Theres no other important tournament after that. (except the Ryder Cup, but that's team golf.)
So yeah, I'm pumped.