No, definitely this one, the Panasonic ZS-15, available on Amazon.com for ~$200.

Interestingly, the upscale ZS-20 has fancier features that are useless to me: GPS, 60 fps non-interlaced stereo HD video (as opposed to 60 fps interlaced mono HD video) and 20x optical zoom as opposed to 16x. Yet, the "lesser" ZS-15 has a better sensor, much better image quality and low-light capability (as a result of the 12MP sensor as opposed to the ZS-20's 14MP) and costs about $100 less.

Read the review linked above. The ZS-15 has a fantastic feature set, and the reviewer was quite impressed with it. It took a few hours and a lot of winnowing, but I think I found the best choice. For SWMBO, anyway. YMMV.

tanstaafl.