I currently have a Canon S2 IS but keep reading and hearing about the Panasonic FZ20 and what a great camera it is what a great lense great picture quality etc. I have about a week left if I decide to return my Canon for a refund.

Can anyone inform me what camera to keep what is better etc.

Value for the money bang for the buck !!!

Panasonic FZ20 or Canon S2 IS ?

You already own the very best.

Ultra

ultrazoom22 wrote: lol, that's what I'm talkin' about :) j/k

For me, the S2 has no competition in it's price range due to the features it has. IMO the standout selling points are:

Articulating 1.8" LCD - If 1.8" is good enough for the 20D, it's good enough for the S2 :-)
Stereo audio recording - A minor bonus, but no there camera I am aware of has this.
Capture image during video recording - VERY USEFUL under the right circumstances (no other camera has this either if I'm not mistaken)
2.4fps burst mode / unlimited - One of the fastest among the competition
Small size - Compared to the FZ20, this is a pocket camera (not really though)

I understand your dilemma though. The FZ20 is a great camera:

Almost no chromatic abberation (the S2 has enough for both)
Manual zoom ring (if that's important to you)
3 fps burst mode, but I think you are limited to 4 shots (that seems kind of weak)
Large size - Hey, most women say size matters, if so this is the camera for you :blah:
Live histogram

Some things that turn me off to the FZ20:

LCD does not gain up in low light
Move mode is limited
Noise is higher than average
Takes over 4 seconds to turn on...ouch

Some things that might turn you off to the S2:

Lots of Chromatic Abberation
No hotshoe
No RAW support
No live histogram

If you haven't done your homework yet, go and do it now. Find out what each camera has to offer and decide what you want based on the offerings. For me, it was the S2 and it's offerings the FZ20 didn't have. For many, the FZ20 will be their choice for the offerings it has over the S2...

If you're only looking for personal opinions, then I think you already purchased the better (all around) camera ;)

I own an S2 and love it, but the big difference between the 1.8 on the 20D and the S2 is that the LCD is not used for image compostion on an SLR camera. they have an actual viewfinder, which blows away the S2 in terms of being able to see precise focus. The smallish lcd is a hinderence on the S2, one you have had bigger. The articultion is nice though, especially protestion wise. I hate scratched lcds