A: LW/PH means "Line widths per picture height" - it's basically a unit for resolution (not sharpness which is a combination of contrast and resolution) limited by the max. resolution of the camera's image sensor. You shouldn't take the LW/PH value itself too seriously because it is dependent on a number of factors. The analyzing tool (Imatest) is quite vulnerable to the quality of the source material.
The effective resolution is dependent on a number of factors. AA filter of the sensor, A/D conversion, demosaicing, base sharpening and of course the lens resolution. However, the "front-"factors are all near-linear. Say, e.g. the AA filter has a factor 0.7 whereas the base sharpening has a factor of 1.5. So in the end we have a formula like
EffectiveResolution = a * b * c * d * LensResolution
Now the value of a,b,c,d is actually meaningless. You can even add another factor - say 0.5. From a qualitative perspective this doesn't change anything. The charts will still look the same - only the numbers will be different.
All PZ sample images are taken as RAW files and converted via Photoshop ACR (default settings without automatic image correction and contrast set to 0). If you convert RAWs via other imaging applications the LW/PH figures will be lower or higher due to the different sharpening & contrast algorithms. In the future we will probably drop the LW/PHs in favor of a school mark system which is easier to read. Refer to the reference scale on the left of the MTF charts to classify the quality.
Here`s a little visual reference:
Sample portion @ 1100 LW/PH (Nikon)
Sample portion @ 2200 LW/PH (Nikon)