Good recommendations but, just in case someone is looking, I believe you mean the Panasonic Lumix FZ-28 and FZ-35. There is also the Panasonic Lumix DMC-ZS3 which is smaller and has a 12x zoom.
For even less money and in an even smaller package there is the 10X Fuji FinePix F70EXR. It has some problems but there is nothing I've found better in low light at that price or double that price (the Lumix LX3 is sweet but the 2.5X zoom limits it and the price is getting close to entry level DSLR). Dynamic range of Fuji beats Panny too. I get washed out skies and blown highlights if I've not careful with the FZ28 and, especially, with an FX500.
Thanks for the correction! I should know better since just two months ago I bought a Panasonic Lumix FZ-35 for my wife. She really wanted the FZ-28 just like my sister's, but I couldn't find a new one anywhere, not even Ebay. Since getting it, neither of us have even bothered to pull out the heavy SLR.