What I like about S5 is the vari-angle LCD, enabling you to shoot from any angle, from high during crowded places or from extreme low - on the ground... this is definitely an advantage when come to photo shooting.

The rest of the features almost the same except some people may prefer Lumix lenses, will opt for Panasonic FZ8.

what I dislike FZ18 is the flexible LCD does not serve any purpose... they only allow you to lift out the LCD screen but doesn't allow you to have variation of angle.... if only the LCD like Canon S5... I would go for Panasonic FZ18.

On the other hand, one more consideration b4 you buy Panasonic FZ18... as this is last year model... Panasonic may come up with new model to replace FZ18....

Since you already have Canon in mind... why think so much again, just go to the shop, grap one and start shooting. Different people will give different suggestion / recommendations. The suggestions and recommendations can go on and on..... by then, you will get more confusing. Just zoom in what you wanted, and if that particular model can give you what you wanted... then don't think much - go for it!

Check this out for picture comparisons..

http://www.imaging-resource.com/IMCOMP/COMPS01.HTM