I was in the same situation a few months ago. I read all the reviews and comparisons, read about the pink fringing on the F100FD. I bought both the F100FD and TZ5 and did my own comparison. Both are good cameras, I had no issue with pink fringing, the Fujion lens was also quit good.
The fuji;
It looked to me that the f100fd sensor (or processing) showed less noise for inside or lower light shots than the tz5, or the noise was a finer gain and looked better to me.
I could get closer for macro shots. The camera is smaller and more pocketable.
The TZ;
Zoomed twice as far. HD movie mode. (although its .mov and fills memory FAST).
Exposure bracketing. Histogram. Better battery.
I had to return one of them so I ended up taking hand held shots and soon noticed that I got consistently sharper shots with the TZ5. I think the Optical Stabilizer on the panny is better that the sensor shift stabilizer on the fuji. I returned the fuji and am happy with the TZ5.
The fuji is a great camera and is probably capable of taking better shots than the TZ5 but the lens and the optical stabilizer is hard to beat when most of my shots are hand held.
Hope this helps
--
Doug