Ok finally here is the comparison photos of the camera's compared.
https://rapidshare.com/files/2915428195/FinalComparisonMerged.jpg
***I've included a Q version of photos with a -2/3 EV value because i realized the K-x was reading about -2/3 lower then the other cameras.
First, the result show that in low-light conditions, the K-x has better detail and IQ. The Q's IQ is good but not comparable in JPEG. In RAW the Q gets closer but is still behind the K-x.
K-x vs. Q in good lighting
I've been playing with the Q and comparing it with the K-x a lot over the last few days and a few things came up. One, the K-x and Q in good lighting both produce very good IQ but the Q tends to produce sharper images. In day to day use, the Q has clearer and sharper images even with the K-x aperture adjusted to give same depth of field. I thought there might be a focus issue with the K-x but it is focusing correctly as far as I can tell. Manual focusing didn't make a difference either.
Obviously the K-x is the better camera and the other P&S are just as good as the Q right?
Nope not really. I knew for a few days that there was something I was missing that was accounting for the difference and I finally remembered what it was. Shutter speed and getting a correct exposure. All camera's were matched to produce the same exposure throughout all ISO's. the K-x was set to 7.1 aperture to match depth of field while the other 3 compacts were set to their lowest aperture, which gave them a slight advantage.
The Panasonic at ISO 100 needed a shutter speed of 1/3 to produce it's best image. The K-x at ISO 200 needed 1/3 as well. The only needed 1/15 at ISO 125. That's about 2 1/4 EV stop difference I think! This pattern continues down for all the cameras with each stop increase in ISO the shutter time halves. By ISO 6400 the K-x needs a shutter time of 1/100 of a second and the Q can shoot as fast as 1/800. The key is that in low-light and any light really, the Q is much more sensitive then the other cameras. This is a huge advantage and I think it's because of the backlit CMOS sensor.
The K-x can produce wonderful and great shots IF you can hold the camera steady enough or use a tripod due to longer shutter times needed at low ISO's. The Q can STAY at lower ISO's in the same amount of light which helps make the image quality much better. I can keep the Q at ISO200 where the K-x or other cameras may need to be at ISO400 or 800 to keep the same shutter speed. This makes the Q great for low-light photography when the camera is hand-held which is most often the case. I just used the Q last night at a bar and was able to get a shot at ISO3200 handheld that I never would have gotten with any of the other cameras in the low light without motion blur.
Here is the photo: ISO800 at 1/13 ( the lowest speed I thought I could go handheld ). Exported from Raw from aperture 3 so ignore the big extra line of data, that's because it came from a RAW file. If you open the RAW in a a RAW editor you don't get that obviously.
Attachment 105588 Conclusion
Overall I'm very happy with the Q. It's designed very well, made well, and is geared toward photographers and having all the capabilities of an SLR in usability and function in a small package. It won't compete with with current generation DSLR's but it's very good for what it is and close enough to be a full replacement for my K-x in most situations. I'll still be using my K-x ( or the K-3 when it comes out ) when I need the highest IQ or shallow depth of field. Otherwise, the Q wins as it seems to be taking consistently sharper images and because of the back-lit sensor which is keeping the Q at a lower ISO and allowing me to get handheld shots in low-light I would not have been able to get.
If anyone wants to see the originals of any of the photos let me know. Thanks.