fz200 or discontinued slr?
I think a little superzoom is a great thing to have for the focal length above all else. For a portable walk-around camera you can take almost anywhere, they are one-size-fits-all. The advanced models with full manual are packed with all kinds of features!
It makes a lot more sense to go for a bigger sensor camera (DSLR - better IQ/less noise) if you never shoot anything over 200mm or especially want to produce "pro" quality images.
Even for pros though, the superzoom is fun and a must have!
It's all a matter of personal preference, needs, and budget. I have both and it's really useful depending on what I'm doing on any given day.