There is a LCD delay, but nothing as bad as I've seen with older digital cameras. Compared to a real optical viewfinder an LCD/EVF system will ALWAYS have some degree of delay, this might be more of an issue with continuous shooting.
For example, I have an Olympus Verve S that I use as a "belt" camera that is with me everywhere I go. that camera uses the LCD for the viewfinder and although it's a good live view it has more of a delay (between movement and what is displayed on the LCD) than the FZ50.
If you want instant viewfinder feedback use a camera with an optical viewfinder.
That problem as you state, is common among all EVFs and or LCDs (I believe)
It is just not a live view.....An Optical viewfinder does not have that lag but it can not contain all the info the EVF displays.
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Gene
From Western PA.