You certainly read Gordon's test of the Fuji and know, that it copes quite well with noise (for a compact that is). Panasonic tends to have more difficulties with noise in general. And in this case the Pana sensor is much smaller than the Fuji, which is always not a good starting point with regard to noise.
So the big question is: Why are you hesitating? What do you like from the Pana that the Fuji does not have?
Perhaps with an answer to this question we could help you weigh the perceived benefits of the Pana against the lower noise of the Fuji...
On my personal score card the Pana has the advantage of a wider lens (28-102mm equiv. vs. 36-108mm equiv. with the Fuji). This would be important for me as you cannot change the lens of a compact and there are many cases in landscape or architecture photography or shooting in rooms (party etc.) where you will desperately need the wider lens of the Pana because you cannot go further away to get the "whole picture".
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Thomas (beware: Nikon-fanboy and moderator!)
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