Yes, the S1 images are too soft. And, from what I've seen of several sample photos, the FZ-20 produces too much noise for my liking. I really didn't think much of the FZ-20's images (at full resolution). The Fz-20 also uses a proprietary (see Expensive) battery, and has no distance scale in Manual Focus. Also, 8 seconds is the longest shutter speed. As well, they still have the Macro setting on the dial, rather than as a separate button. In the FZ-10, this meant it was difficult to use Macro in Manual Exposure mode (there is a way, but you have to 'trick' the camera). It appears as if they've not corrected this stupid problem with the FZ-20. To me, the FZ-20 is a camera that could have been - and should have been - much better. Instead, they were content to simplyincrease the resolution, and leave the problems of the FZ-10 intact.
As I understand it, the Nikon 4800 has no Manual Exposure (nor Aperture or Shutter Priority). So much for that one.
I think that, in this range of cameras, Olympus has the best image quality, and the best features overall. Too bad they went away from the AA batteries, though.