juliest, Rod - thanks for observations, they're spot on.
At the moment I agree with Rod that 14-140mm lens with a GH-series body seems to be the best alternative for me, especially in micro 4/3 world. Sadly I could not afford it at the moment.
Thanks to promotion mentioned before I was able to buy a G2 kit with both 14-42mm and 45-200mm lenses for 1/2 price of GH1 w/14-140mm (900$ vs 1900$). I still don't know if I'm going to keep it though. Just like both of you noticed it is very difficult to replace a superzoom (also mentally). My usage consisted mainly of the extreme ends of FZ20 zoom range. This can't be directly replicated by the kit I have choosen.
Some of the things I was not fully aware of before:
- body is a tad too small for me to hold comfortably. When checking out in the shop it felt good, but the grip is too thin compared to FZ20 or other larger bodies, and in normal operation my fingers get tired from gripping only with fingertips, not their full length.
- EVF is of excellent quality, but as I wear glasses they put it at extra distance from the eye. As a result I am unable to see the whole display at once. This might destroy the joy of framing - I have to shift my eye to see each corner separately (or use LCD). Again, I did not realize this when checking the camera out in the shop. It's a bit better when LCD is flipped out to the left - more space for the nose and eye can be pushed closer to the viewfinder
- 45-200 lens are FAT and leave little place for fingers on the grip. I did not try these lens before, only 14-42, and somehow I assumed that all micro 4/3 lens have uniform (standardized) thickness. Little space between lens and grip was the reason why FZ45 and similar were too small for me, so I'm not quite happy here. I'd definitely need to handle 14-140 lens before ever buying them, as I suspect they are also quite thick, being a large zoom.
- oops, greasy nosemarks on the LCD, doesn't everyone love that? (yup, already knew it before purchase, but it's sooo annoying when the viewfinder is in the middle...
- magnification for Manual Focus is a great feature, but at long tele the whole picture becomes "gelatine" thanks to the way CMOS sensor works I think.
- that one really got me: shutter/aperture sounds. You may laugh, but I expected a mirrorless system to be soundless, too ;-) shutter is pretty loud, and also aperture preview causes loud buzzing on 45-200 lens while aperture is closed/open.
- menu system seems a bit inconsistent, using "set", "left" or "trash" buttons to go to the previous menu, depending on where you are.
- oh man... these animated/sliding menus are so silly! they should be simpler, faster and without introducing extra delays. I wish Panasonic fixed it in firmware :-/
- playing hide&seek with LCD. Sensor for automatic switching is designed in such a way that LCD switches off usually when I try to use touch screen and put my hand close to the screen. Need to switch to the manual mode I guess, so much for "convenient" feature.
- G2 and lens are made in China, whike FZ series made in Japan. I thought G2 was also Japanese-made. While I do not really consider it to be a problem, it was still a bit of surprise.
Other than that there are all expected differences, such as large weight (especially with 45-200), lack of one-hand shooting (zoom requires using the other hand), "Pinnokio" effect going to tele, better ISO characteristics (up to 1600), larger sensor resolution, shallow DOF, very good stabilisation effects.
What next? Spend time with G2 and shoot a lot of photos to learn its limitations. Decide whether to keep it or sell and go back to a superzoom. If a keeper - eventually move to 14-140mm lens, or sell the whole kit and get a GH2 with these lens. Also consider pancake 20 or 25mm based on needs.
Now a funny off-topic about Panasonic "genuine battery" protection: electronic shop has various cameras on display. They do not have batteries for obvious reasons, but DC power is supplied using an external cord. Guess what - after a few seconds Panasonic camera complain that "this battery cannot be used" and switch off.