As for pixel peeping: I only care about how a pic looks in the resolution I'm showing it. It's not that different from showbusiness, most of it is simply an illusion. So are pixels forming an image. The pixels don't count, it's the illusion that does. And photographs are nothing but illusions, showing something that isn't really there. I don't look that much at the ingredients rather than at the final dish.
I did look recently at images from the f550 on Flickr and many did look very nice. I have yet to take the camera 'out and about' so perhaps I should do that before passing judgment.