Some comments I made elswhere...

Personally I think the 7Mp sensor is overcrowded and I doubt that 1Mp less will make much difference. I'd rather see the Mp halved than yet more aggressive noise reduction used to compensate for a poor signal to noise ratio...

The TZ2 isn't really that much cheaper and any compact over Ł200 is not likely to make it's owner look cheap... as if that even matters.