
Concept: 3 out of 5
Execution: 4 out of 5
Yeah, but: It's a compact, but it doesn't disappoint.
The Long Version: I've been looking for a compact camera for a while, and not having much luck. Admittedly, there's no shortage of cameras in my life, so I wasn't just looking for a generic happysnap, and a lot of what I want is contradictory. I like small P&S toys, and love the Canon SD780 for its body, but I own three pocketable cameras already. I'd like something durable, but already have the Olympus 770SW. Ultimately I decided that what I was really lacking was quality video recording and a visible-light long zoom. Since I already have the FZ18, I was waiting for its replacement's replacement to hit the store shelf. It arrived, I didn't like it, and after considering just about everything else from Canon and Panasonic, I picked the Powershot SX20 IS.

The SX20 is still a fairly new camera, and like all of the review sites that haven't published their thoughts yet, I haven't had much time for in-depth analysis. Not that it's really worth doing much in-depth analysis: compact cameras are never particularly strong on image quality, and it's certainly not my priority when I can put a lens on an SLR and have a combination that costs ten times what this Powershot does. It's all about the features.
The SX20 replaces the SX10, which replaces the S5, and so on down to the S1 - skipping #4 - that came out in early 2004. In digital camera years, that should earn it a bronze plaque and special municipal protections as a heritage site. It's not surprising that Canon has gotten just about everything right.

The defining feature of the SX20 is the lens. It zooms through its 28-560mm-equivalent range very quickly, and focusing is fast enough that it doesn't annoy me. The lens is decent, reasonably sharp, with some distortion and fringing, but not that much. Again, my standard is simple: it doesn't annoy me. The image quality is pretty good; not SLR-class, but as good as anyone can expect from sRGB jpegs and an itty-bitty sensor that's noisy at its base iso.
The next feature that appeals to me is the flippy LCD screen. I have one on my Olympus E-3, and know just how important it is for Live View shooting. Since the HD video is going to be a major use for this camera, the flip-out screen puts it above cameras of similar quality. Not that there are a lot of similar cameras; the FZ35 would have been a logical choice for me, but its AF speed had already knocked it out of contention.

The final big feature of the SX20 that appealed to me is a little more subjective - I like that it takes AA batteries. My sound recorder also runs on them, so if I'm out to record video and audio, then I only need one type of backups. Handy. It does add some extra weight to an already not-light camera, but given how much weight the lens puts on the front of the camera, I think it actually helps the balance. The AA's also means that rechargeable batteries need to be added to the price of the camera before it can be fairly compared to other long-zoom cameras, and since it's already toward the top of the price bracket, that's not insignificant. At least the SD card slot isn't in the battery compartment the way it was with the S5 IS.
Naturally, there's more to be said for the SX20. It has a hot-shoe, so there's no reason why I couldn't hook it up with a Canon speedlight. It can work in fully manual mode, so I could also run my Olympus flashes or use my Pocket Wizards on it. The built-in flash needs to be moved up to fire, so there's no risk of having it go off without warning. The controls overall are very good for a compact: not quite at the G10 level, but it still has more buttons than some entry-level SLRs. It has the spinning control wheel around the four-way controller, but even it isn't as touchy and annoying as the one on the SX200 or most of the Elph line. The SX20 works just like a Canon camera, and in a good way.

But the Canon still has some odd and inherited quirks. The lens cap has only a tenuous grasp on the camera, which is unchanged from at least the S5 IS. (Updated: I've replaced mine with a lens cap from Nikon, which is the best design out there right now, but any 52mm cap will work.) The lens hood is a nice, slightly flexible plastic, but I've needed to tape it in place. This shouldn't be that difficult. I suppose, since it doesn't have an "L" lens, I should just be happy that Canon includes a lens hood at all.
And finally, I have to say that I'm pleased with the video quality. It's far, far better than the Olympus Stylus 770SW that I've been using, and the audio is passable as well. Not great, but passible, and better than most of the cameras that I've tested. I'd have no problem recommending the SX20 to people who are looking for a long-zoom camera with decent, but not quite HD-Camcorder-level video. It has a few quirks, but overall it's a very well built camera that has had the advantages of experience and time to get the design right. It will never rival the image quality of any of my SLRs, but it doesn't need to. It's perfect for biking, is able to handle just about any (daylight) situation, and it fits into my MEC Pod slingpack along with my audio recorder and gorillapod. Instead of putting this one on a test bench, I just look at the photos it takes, and am happy that I had the SX20 with me to take them.
updated much later: the SX20 proved to me how much I could like a long zoom lens, but I sold it after I bought a Panasonic GH1 with its 14-140 lens. It's not the same range as the Canon, but the better image quality makes up for it.