Maybe new firmware?...I am/was in the same debate. As you may know I just picked up a Panasonic TZ3. Well, I love the size of that thing, but I find myself frustrated by the lack of manual controls, and hating the lack of a viewfinder. I guess I am just old school.
I'd consider an S5, but again the viewfinder (evf) is a deal breaker for me. So that leaves me with the G9. I used to own a G2 and still find myself missing it now. So I too am finding the G9 to be about my only choice. I guess I really don't know much about the Nikon.