XS-1 vs FZ200 informal test...

1. COLORS / WB: Fuji, by a landslide
2. SHARPNESS: Panasonic
3. NOISE at ISO 800: tie, but I lean towards the way Fuji handles it
4. OVERALL IMAGE: Fuji, the typical Panasonic OOC camera colors just drive me nuts (and I've owned 6 of them over the years incl. GH1, GF1, LX5, FZ30, etc.)

Like someone else noted, I was surprised how much Panny squeezed out of the smaller sensor.  I do have to wonder if this X-S1 has the updated lens and sensor. Overall, I'd take the Fuji as I believe, overall, it does lend itself to more pleasing OOC captures.  However, the FZ200 constant f/2.8 is VERY appealing.  I Hope an X-S2 incl. a somewhat faster lens.  I'd be happy with a 28-400mm f/2.8-4 or even an 24-300 f/2.8-3.5.

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Ken
FujiFilm FinePix Moderator (PM with Q's vs. a public post please)
http://www.kwaphoto.com
http://500px.com/kwaphoto/sets