I spent a month debating the S2 vs. the FZ5 before finally settling on the FZ5. I'm quite satisfied with it, and pretty well convinced I made the right choice. The noise differences on the two cameras are
relatively minor, and for me the selling points on the S2 were the AAs (instead of the proprietary), the better movie mode, and Canon's panoramic stitching mode which I've used on a previous camera and quite liked. Furthermore, the rotating screen was particularly nice (both for odd angles, and protecting the LCD).
Unfortunately, when I actually got my hands on the cameras to see how they felt, I was particularly bothered by the S2's lens cover, which is a rubber piece which slides on, and is held in place by friction with an interior felt lining. While this is nice in that it automatically pushes the cover off if you forget to remove it yourself, it struck me as weak protection for camera that I was going to spend ~400 USD on, especially given how repairs go for digital cameras. A look at the
Canon forums suggested that those people concerned about this problem are dealing with it by either ignoring it, jury rigging a solution, or permanently attaching an adapter and filter, which can then have a clip in cap attached. While this would work, it makes the S2 much larger than I was willing to deal with.
In contrast, the Panasonic was smaller, lighter, had nominally less noise, all the critical features, if less of the cute gimmicks that I like. And I felt less nervous with it in terms of the lens cover. Oh... and it was cheaper.
As to the specific questions.
The menu system. General modes (priority modes) are accessed by a dial, but beyond that, most of the settings - ISO, white balance, etc are accessed through a relatively simple menu system. Some functions, such as the priority are through a button and arrow, others, such as exposure/bracketing are reached through the up arrow at all times. Image Stabilization is easily turned off, and rapid shot is also a single button.
Pretty straight forward. Not as many random modes as the S2, but enough to cover most things...
Low light. Its hard to see whats on the screen/EVF in the dark. Can't argue that. This said, the autofocus still works well, and I usually can line up and get my shots anyway. I haven't compared the S2 on this. I haven't noticed a problem in bright sunlight.
Hope that helps. For my .02, if you don't mind the added size of an adapter and filter, the extra gimmick features of the S2 are quite nice. Good luck!
S2 IS vs H1 vs Fz5
and move) and posted a new thread on it. To sum: these were issues important to me:
Linear Mode
