I agree with about 99% of your posts but in this instance I don't think "other than that, they are just about equal." is very accurate.
FZ 20
AMAZING lens
GREAT customer satisfaction ratings
average movie mode
proprietary battery
3 frames per second
higher price
bigger/heavier
Z5
very good customer satisfaction ratings
GREAT movie mode
AA batteries
10 frames per second
lower price(Z3 even has $50 rebates right now)
lighter/smaller
I'm not bashing Panasonic by any means. The lens on the FZ series has to be considered the best value in photography. Whether it's the right camera for someone is highly dependant on how they plan on using the camera however. So many people leave the camera behind because it's a hassle to carry and make sure the batteries are 100% before they leave. Much less of an issue with the Minolta imo. For that matter I'm not always near a power outlet each night when I do the bulk of my photography so the AA battery difference is pretty much the deciding factor for me. I realize you can get extra batteris for the Panasonic BUT that just makes the price difference between the two that much more pronounced. Some people rave about the Minolta's movie mode but it's not much of an issue to me. The difference in frames per second is a bigger issue however. The 3 frames per seconds kind of undercuts Panasonics lead in terms of sports photography.
This isn't to say Minolta is better, it just could easily be better for many people. If you are the type that just takes day trips and can recharge every night or shoot in low light situations (especially at the end of the zoom) then the FZ line makes perfect sense.
Lots of considerations when making a choice between the two. Several differences besides just the lens.