My recent thinking on this is that there's no such thing as the One True Camera For All Things. A full-frame D-SLR is great when you want the things it can provide (super-fast autofocus, great selection of lenses which can do shallow DoF, great low-light performance, etc.) but it falls on its face when you're doing other things (e.g., macro work is a huge pain due to the limited DoF). And the weight of these things will kill you.

The mirrorless compact cameras (from the Leica M9 down to various Micro 4/3 cameras) are a wonderful compromise in many regards, getting you much of the D-SLR goodness at far less traveling weight.

Mobile phone cameras are already in your pocket, which gives them a big advantage. You've got them with you. They also get nearly infinite depth of field, which is great if you want that.

I rarely find myself wanting extreme super magnification, so I the extra goodness of the FZ200 would be lost on me. If, however, I were trying to shoot sports from the cheap seats in a stadium, then it would be quite attractive. Make sure to bring a monopod or something else with which to stabilize the camera.