The recently announced Olympus C720UZ looks quite promising. It has an upgraded sensor of 3 million pixels and still has an 8x optical zoom (40-320mm equivalent). The C720 replaces the C700 (2 million pixels and 10x zoom). Image quality of the C700 was a bit of a problem but some sample shots from the C720 look like they're better quality. Price is about $600 in the US, available from around June. dpreview.com has a short preview of this camera.
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