If I didn't already have a waterproof camera that refuses to die or get lost on me - I 'd get the panasonic.
I'll post more of my optio w60 photos over in my kayak thread.
But whatever camera you get - make sure to take it out and practice with it, and use the different camera modes (either take notes or whatever) and then look at them on the computer to see what's working best in what light - because nothing sucks more than taking a new camera on a trip and missing good shots because you don't know how your camera responds to what lighting. It took me a while to realize that the optio was best at -0.7.
Actually, what does suck more is when there were 2 bears like less than 50 feet from me last week and I didn't have an sd card in my camera, but thought I did.