Thanks Gordon, and sorry to make you explain it again to me in particular. I read both reviews eagerly as soon as you posted them, and I even did some diagonal reading later on in search for the update of the gps accuracy issue, but didn't spot it.
I ordered my hx5v yesterday. In case anybody is interested, here's the rationale of my choice:
I want a compact small and light enough to take everywhere. Want wide angle, good zoom, good video, low-light and easy geotagging. The ony candidates soon reduced to TZ10 and HX5V (Samsung HZ35W a bit too bulky, Nikon S8000 starts zoom at 30mm, Canon SX210 IS no gps... a very good candidate would have been soon-to-come Fuji F80 EXR if it had gps, since it will beat the field in the important low-light department...)
So between the Pany and the Sony:
· I'd prefer 12x to 10x, but the "difference" is not "2x" (as somebody posted somewhere

, but a 1.2 ratio (not that much). And in return, the Sony is also slightly lighter and smaller.
· Image quality seems just a little bit better with the Pany in daylight (I'd prefer some more detail than aggressive NR), but with good lighting pictures are "easy" in general and there won't be much difference: acceptable quality for me in both cases.
· Raw low-light seems to be quite similar on both models (no matter how much fuzz and publicity Sony wants to make of its sensor). By "raw" I mean simply single-frame high-ISO pics (jpeg of course, not raw). So no bracketing, compositing and bells and whistles doing their lab job in-camera. Honestly, "raw low-light" disappoints me a little in both cameras; I would've preferred a Fuji EXR sensor much better than Sony's. Or at least a more luminous glass (f3.5 is a bit too little).
· So the deciding factor for me is the "bells-and-whistles" low-light (as opposed to "raw" low-light). You know what I mean: HHT, AMB, backlight HDR... and of course 10 fps full-res, wich not only allows the former, but is of great value in itself.
· Other bells & whistles I value are smile and blink detection, iSweet Panorama (I like Panoramas: I spend hours stitching images with free autostitch.exe, which I recommend, but now the camera will save me time and solve the moving-subject problem), etc.
· Other differences for me are minor. Even the gps ones: most important for me is conveniently easy image geotagging, not in-camera landmark info, etc. Even the screen resoultion: at my age I'm starting to have trouble focusing at short distances without glasses, so for me the raw 3-inch display is more important than a resolution I won't fully appreciate. PASM of course is better than Sony's limited options, but not crucial for me either (at least I have M, even if only two apertures).
So the bottom line is: the Pany is a bit better in some aspects and the Sony a bit better in other aspects, but there are times when the Sony, mostly because of the 10fps burst, can take some pictures the Pany cannot even attempt at.
And it is also almost 50€ cheaper, at least in my country...