Here are some thoughts, Unicorn. 2 weeks ago I bought an Olympus C-8080. 8Mp 5X optical zoom. Big camera, heavy good in the hand, but I'm now thinking I might have preferred an SLR, probably Canon. However I don't want to get back into carrying lenses. My short list was Nikon 8700, Canon Pro 1 and C-8080. Sony was just to big and weird.
I used my credit for the Lumix 12X I sold back. Frankly that 3MP camera was easier to use and more "pro" than the Olympus. The Lumix was very hard to hold in my hand, which I didn't like it. I was enamored by the 12X zoom for that one trip. ...and it was perfect for that trip equiv to a 440 zoom in 35mm terms.
I think 3MP is enough for most people, but 5-6 MP if you like to do a lot of cropping. AFter that no one will notice any differnce in prints or DVD slide shows.
The key, as you say, is how the machine feels in your hands, how the menus work. The Olympus has a really antiquated menu system they've used for years and it isn't terribly intuitive. I've owned many Olympus digitals since 1997, starting with the 0.7 mp and working up to my present model. I've always liked their product and feel comfortable with the brand (not to mention my long gone OM-1 with its 1.4f lens). None of the new digital zooms have faster than a f2 lens and that is unfortuant. Also, the smallest aperature is f8 on most. So, maybe the SLR is the way to go. Depends on if you are young and courageous enough to carry the weight. I'm near 70 and travel a great deal. I just can't be bothered with all the kilos hanging on my shoulders anymore. And, I insist on carrying along my 2 kiilo laptop. Maybe the new OQO will solve that weight problem.
On my recent trip to the Antarctic the best pictures taken by the group were on a Minolta digital zoom.
Keep us advised of your ideas and eventual conclusion.