. I already own a Panasonic Lumix TZ5 with superzoom, but I don't really like the lens and a lot of people told me that a compact camera with that much zoom can't be really good.
Its probably one of the best superzooms I've had the pleasure of using. It is however not without its limits. You just have to understand those limits and work within.
TZ5 at the longest end
As with most P&S, low light is where they begin to suck... it doesn't matter which P&S. The TZ5 usually travels along with my Metz CS-2 optical compact flash. Get the flash off camera and reduce the built-in flash, you get some really nice results:
http://www.thephotoforum.com/forum/...s/176457-p-shooters-flash-metz-28-cs-2-a.html
Anyway.. I shall move on...
I believe the S90 (and the S95 which replaces it), LX3 (and the LX5 which replaces it), and the G-series (Canon G11) all would be a worth while upgrade from the TZ5 image wise. These are high end P&S designed to deliver results that even DSLR experienced photographers would be happy with. They all have features (RAW for example) specifically aimed at the photographer's P&S types. BUT.. they are still tiny sensor equip cameras AND have limitations that need to be understood in order to get the most out of them. Specifically, low light and high ISO performance. Some better than others... One thing they all have in common is a relatively higher price than all the other consumer level P&S.
One thing all of the cameras mentioned above lack which happens to be the TZ5's strong point is focal range (zoom). All of the cameras being recommended have a zoom of 2x to 5x. The TZ5's zoom is whopping 10x with newer versions in the 12x range. A lot of the IQ high end p&s achieve is through their optical design.. which is much more difficult and more complex to manufacture with zooms of a long focal range. Most notably the LX3 with its very wide and fast f/2 Leica optics but it too only has x2.5 optical zoom versus the TZ5's slower less performing 10x optics. So its a trade off between Image quality and zoom range.
So things to consider:
* How important is the focal range? Would you miss or feel limited by it?
* How important are the advanced features in the high end p&s? (You will pay extra for them)
* Is high ISO performance important? In my opinion, they all bad relative to the current market DSLRs out there (which is no surprise). Some perform better but in general these tiny sensors still might disappoint. Just asking this question to set your expectations.
As for video, I don't really know but I've been running into bits of information leading me to believe that many are fairly limited. Some you cannot zoom while recording. Some have limitations on the size of the video file hence length. Just something to look into before you decide.
With that said, the LX3 is probable the best (most enjoyable) P&S I have ever had the pleasure of owning. The f/2 optics are first rate, the 24mm wide angle, and the quality of build is very high. However, It is EXTREMELY limited in zoom (LX3 2.5x and LX5 3.5x). The S90 and S95 would be a very close second choice.... If the camera must be pocketable, then definitely place the S90 or S95 at the top of your list as the LX3/5 is barely pocketable and the G-series are even larger. S95 would be your best bet if video becomes a higher priority (check for limitations).
Quick sample from the LX3.
I'm drooling for the LX5 right now but at the moment I am enjoying my interests within the m4/3rds camera systems. Much larger sensor than any of the P&S but very compact (lenses are tiny compared to DSLRs). Larger sensor translates to better final image quality and high ISO performance. It is also the most adaptable for vintage glass (which is why I got it in the first place). Just something you should at least look into if and only if the camera doesn't have to be pocketable. You can start by looking into the Olympus E-PL1 which is just about the same price as many of the P&S mentioned in this thread.
If I had to absolutely make due with a bare minimum on an extended trip, I can make due with TZ5 + CS-2 flash + pocket tripod.