I like:
- the smart design of all controls.
- good main lens with very usefull x12 optical zoom.
- very bright LCD and very nice EVF.
- long life rechargeable batteries - aprox. 300 shots or few (3-4)weeks of random use before a full recharge.
- the optical stabilizer.
- I can add 55 mm filters such as UV filter and circular polarizer filter.
- the flash output is adjustable !!! you can play with different level of flash output in order to obtain a nice fill-up flash or to avoid the burning white areas as a result of to much harsh light from the flash. For example for a indoor close-up you can setup the flash output to -2 steps and you will have a nice soft flash light.
- in good light you can use the Shutter Speed priority to catch the "never stand still kid".
- you can do 3:2 rate photos = no crop required when you print on 4x6" format.

I don't like:
- ISO 200, 400 indoor or dim light = lots of noise !! you will need a noise reduction software to use in situation. For outdoor or good light is ok.
- the 32 MBytes SD card which comes with the camera is a SHAME !! you need at least 256 Mbytes SD = 70 photos at 3:2 ratio - 7 Mpixels high quality jpg mode.
- Shutter Lag - I lost lots of potential good pictures - birds or wildlife scenes - before I learned to get rid off the shutter lag.

Must have with this camera:
- 55 mm optical filter UV (to protect the main lens from dust and scratches) and circular polarizer.
- a small cord with a self adesive button for the main lens cap !!! not provided by Panasonic with initial kit/box.
- a camera bag.
- SD card at least 512 Mbytes. Ideal ...2 Gbytes 133x
- Tripod ! indoor you have to use ISO80 or ISO 100 to avoid the noise !!!