Hi Jim
Your extensive and informative review pretty much explains why I rarely comment on cameras particularly video cameras outside the photographic forums. Compared to the video clips recorded by most if not all the still cameras , the Pana is way better than that. However if you have ever shot with something like a Sony VX2100 or FX1 , the results would be disappointing. That is why I compared the Pana to my Pentax WP. Great for what it is but not if you are into photography.
I have even seen people raving on about their Aipteks, I used to sell them but as a toy or a crash camera not as a video camera.
This year there is a big push for High Definition, particularly on flash memory using AVCHD (MPEG4 similar to H264)
The 07 line up was close but still not as good as MPEG2 on Mini DV( see Canon HV20/HG10), but they are getting better all the time. So maybe later on this year or early 09 we will have shock/waterproof HD camcorder of the Pana SW size.
Have fun with the Pana !!!
Franco