The choice of a camera depands upon so many things..
Size & weight to carry around, convenience in use, ease of use, ease of looking thru the eyepiece, menus & shortcut buttons, Image Quality from its lens [or multiple lenses for the SLR]; focus response time; and the list goes on
Whether it's a Nikon or Canon or Pentax SLR - all will give excellent results but at the cost of size & weight & price
Whether it's the HS10 or the FZ40 or similar superzoom - all will give more than good & reasonable results with lots of convenience but at the cost of some Image Quality (compared with good quality SLR lenses)
Considering that the cost of most SLR lenses is greater than the price of the HS10 [or similar] one would expect better IQ. However as you can see from the many postings here from other photographers using a superzoom, the IQ is pretty damn good
The final choice must come down to you - you're the one going to use this camera