I've known what I wanted in a digital camera for several years:
1. Fast shutter release (my Canon S-200 takes 3+ sec., 5+ flash).
2. Small and light (for backpacking, travel).
3. Point and shoot zoom(5X plus with image stabilization).
4. 4+ megapixel, under $250.
5. No proprietary batteries, 2 AA preferred.

Up until now, nothing has come close. Then I read in Business Week that the LZ1 and LZ2 had become the best selling cameras in Japan within several months of their introduction. No independant reviews were available (even CNET) so I bought the LZ1 on the strength of it's technical spec's and my previous experiences with Panasonic products.

I took the LZ1 to the rodeo several days ago to test it under demanding conditions. I used the "sports" setting and burst mode(four exposures in about 1 1/2 seconds under those circumstances), all freehand. The results were stunning! No noticeable shutter lag, no blurry or out of focus pictures, all action frozen. Simply put: point, shoot, you got it!

Notes: Actual weight with 2 batteries is 8.2 ozs. The user interface is the best I've seen: full functioned and simple. Flash shots have shutter lag of approx. 1/2 second. I use Panasonic 2300 mah nmh rechargeable batteries purchased at Costco. Panasonic specs claim 370 pictures with those batteries, 30 seconds between shots, LCD on, flash every shot, full zoom in and out each shot. This camera has no optical view finder. I use Panasonic high speed 256mb SD memory cards- expensive, but after having a Viking card quit and swallow 200 pics on another camera, I don't pinch pennies on memory. I may try a Sandisc Ultra II SD card if Amazon gets some in stock.

A professional photographer visiting from New Zealand showed me this camera, which he uses mainly as a sophisticated light meter for his 35mm black and white photography. He said that he's obtained excellent color images using this camera, easily enlarging them to 16 x 20" without no visible loss in quality. I was surprised how well this camera handles, fitting comfortably in the palm of my hand. And thanks to the image stabilized option, I could photograph at a shutter speed as low as 1/15 of a second. The resolution I'd seen from this camera is on par with what I have observed from the Leica Digilux models and the Contax TVS digital camera. In short, this is extraordinary performance from a 4 MP digital camera. Panasonic's latest digital camera comes with a Leica Vario-Elmarit lens, which is as good as the Leica and Zeiss lenses I have seen on other digital cameras. If I had some money to spare as well as space in my camera bag, I wouldn't hesitate buying this little optical jewel of a digital camera.

I bought this camera on the strength of other people's reviews. It does take good pictures and the optical stabilizer is great. However, I found that the lack of a viewfinder made it impossible to compose pictures in bright sunlight. This is my first digital camera, and I didn't realize what a problem it would be. I'm used to SLRs. I returned the camera and bought an Olympus C5500. It was a little more money but is WAY more versatile. I do miss the stabilizer, though.