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How do superzoom cameras compare to DSLRs in terms of photo quality?

I was thinking of buying a Panasonic superzoom camera - http://www.amazon.co.uk/Panasonic-Lumix-DMC-FZ38EB-K-Digital-Camera/dp/B002KHMJ78/ref=sr_1_16?ie=UTF8&s=electronics&qid=1256395236&sr=1-16 - but I was wondering what the photo quality would be like compared to DSLR cameras.

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1. They are in a different league altogether. The sensor in superzooms is tiny compared to ANY DSLR, so they just can't produce the same quality. They are handy to have sometimes, but for image quality - well, they are handy to have sometimes. You will find many comparisons of sensor size in this group: http://www.flickr.com/photos/samfeinstein/tags/sensor View the pairs in the original size and compare. Here are a couple that might save you the time. Bear in mind that my point and shoot examples are from a "better" P&S camera with a larger sensor - almost twice as big as the one used in the superzooms. Just scroll up and down and compare, as I have lined up the images to make this easy to do. http://www.flickr.com/photos/samfeinstein/2372413161/sizes/o/ This pair is side-by-side: http://www.flickr.com/photos/samfeinstein/476181751/sizes/o/ Look at the stats here: http://www.dpreview.com/reviews/compare_post.asp?method=sidebyside&cameras=nikon_d40%2Cpanasonic_dmcfz35&show=all (Note that the FZ38 is called the FZ35 in the USA.) Look at sensor size and (wow!) pixel density. These are about the same size and about the same cost. You'd need to get an additional lens to have the same zoom coverage for the DSLR (a 70-300 VR would come close in tele range to the Pano), so you'd have another $5-600 invested, but image quality would be much, much better.
2. not as good - what the other guy said EDIT: guys
3. There are three major things you should consider when comparing the Panasonic digicam to a DSLR: 1) Shutter lag. All digicams suffer from shutter lag - that time between when you press the shutter release and the camera takes the picture. This makes a digicam all but useless for trying to shoot sports or kids, especially when you want to catch that decisive moment. A DSLR has no shutter lag. Advantage: DSLR 2) Sensor size. The Panasonic has a tiny sensor that measures 6.16mm x 4.62mm - 28.5mm squared. When 12.1mp are stuffed into such a tiny space you can expect poor performance at higher ISOs - beginning at ISO 400 and poor performance in low-light situations w/o flash and that's where you need a higher ISO. An average sized DSLR sensor measures 23.6mm x 15.8mm - 373mm squared. Even with 12.1mp in a sensor this large each individual pixel is several times bigger than the pixels in the digicam sensor. Bigger pixels means better performance at higher ISOs and better low-light w/o flash performance. Advantage: DSLR 3) The lens. The f2.8-4.4 lens on the Panasonic is permanently attached. You're stuck with it and it isn't always a good choice for certain situations - especially low-light ones w/o a flash. With a DSLR you have the luxury of changing lenses to suit the conditions. If you know you'll be shooting in low-light w/o flash just change lenses to something more suitable like a 50mm f1.4. Why is that important? Because it allows you to use a lower ISO (which always improves image quality) and still maintain a higher shutter speed. If you're using the Panasonic with ISO 800 and getting a shutter speed of 1/60 sec. at f2.8, you will get the same shutter speed with the f1.4 lens at ISO 200. Use ISO 400 with the f1.4 and your shutter speed becomes 1/125 sec. Use ISO 800 and the shutter speed becomes 1/250 sec. With its huge sensor the average DSLR image quality at ISO 800 will be better than a digicam image at ISO 200. Advantage: DSLR You'll be able to print much larger prints with a DSLR. If you're serious about photography buy a DSLR. Sony, Pentax, Nikon and Canon all have excellent entry-level models for about the same price as the Panasonic.
4. Interesting question and one I had recently considered,... until I did some research. I was looking at the Olympus Superzoom dSLR http://www.olympusamerica.com/cpg_section/product.asp?product=1450 to replace all the lenses I carry with my Nikon 6.1 megapixel D100 http://www.imaging-resource.com/PRODS/ND100/D10A.HTM. The Nikon serves me well but I wanted to upgrade and saw this 'incredible' all in one camera. I admit, I had stars in my eyes and wasn't seeing the downside as much as I was seeing,... ONE CAMERA TO DO IT ALL. The price was so tempting,... less than $400 and having only to carry the one camera was certainly a temptation I was having trouble getting passed. To know me is to love me,... I'm one of those people who backpacks a hundred pounds of equipment to photograph Dragonflies "You just never know what you're going to see" is my hallmark justification. In your case I'm sure, you are star struck too. My Sister, quite an accomplished photographer herself http://sharedvisions.us/Hickey/index.aspx uses a Panasonic much like the one you are considering but an older version. She is limited by it however and occasionally I'll hear her frustrations. My choice was well beyond those issues but I did have issues with a smaller sensor (quality). I ultimately gave into the reality that I have a remarkable system of lenses, most of which are prime and so I bought a D90 (I used the one my Son had to shoot his model portfolio for him in Philadelphia) because it was quite literally mind-blowing quality. In closing, I'm certainly not going to dissuade you from your direction but do think you should know your limitations as they have already been presented by the other contributors. The camera may well be suitable for your purposes (and I'm still thinking about that Olympus for it's convenience of use). .
5. wow, as usual long winded and technical answers dont really help the new user. simple answer. NO of course not. the sensor is tiny by comparison, the lenses are usually made from recycled ford windscreens and the controls came from the latest russian spaceship. its all dependent what you want to do with the camera, take snapshots and put them on facebook, then the lumix is as good as anything else in the market. you want to earn a living off it, then buy a DSLR, of at least 9mp. Nikon, Olympus or Cannon. like everythig else in life, you get what you pay for..