While not a bad review, I do have some quibbles with it. I mean, for one thing, there is not much discussion of the faster lens that the Panny posseses. While comparing ISO to ISO is valuable, it is also worth to note that using the faster lens with the same scene will result needing a lower ISO than the other two cameras. Honestly, Nikon has been falling down the last few years in high end P&S, and he's a huge Nikon fan. I've always liked Canon, but I think their move to some of the newer Sony sensors hurt them. The new Sony sensors, while providing good higher ISO, have not been doing well with low ISO compared to Panasonic. I also think that he's a bit harsh on the Venus engine. Noise reduction I think can be turned down which would produce a nicer result for jpegs. From what I have seen though, his assesment is correct in that the RAW from the LX5 beats the S95 and other competitiors. I think at the end of the day, its about ergonomics and UI that makes the difference.
While I see the Nikon and Canon competiting here, the S95 and Samsung TL500 are more direct competitiors to the LX5.