My notes show that the shutter delay on the F70 is 0.4 second.
I have not seen that specification on the ZR1, but the ZR1 is a smaller version of the very popular Panasonic ZS3, which has a shutter delay of 0.6 second.
The Fujifilm F70 has the latest Fujifilm Super CCD sensor.
That should give the F70 an advantage when used in low light (without flash).
With the $50 difference in cost, it would be a difficult decision to pick just one.
Here is a comparison of the two cameras:
http://www.dpreview.com/reviews/compare_post.asp?method=sidebyside&cameras=fujifilm_f70exr%2Cpanasonic_dmczr1&show=all
Notice there is a green link just under the photo of the F70.
That link will take you to sample photos from the F70.
..
This is my first post, so I apologize if I don't have the proper terminology nor etiquette- and I hope it is not a recent repeat post- BUT I am trying to decide between the two cameras listed in the subject line.
My general interests for this camera purchase are:
Subcompact, $200-$300, very, VERY little first shot delay (as well as subsequent shots but that is generally a non-issue to accomodate), optical zoom capabilities of 8x or 10x (or greater within price range), image stabilizer of "optical" or "mechanical," max ISO of 800 or 1600.
I believe the Panasonic is faster, but I like the "professional" modes available on the Fuji- namely the "pro focus" mode which blurs out the background (which I really groove on!). SO, which would you choose out of these two based on your knowledge, experience, and my criteria? Or do you have another camera suggestion?
Thanks in advance for any consideration.

Chowhound
Comic Vine
GameFAQs
GameSpot
Giant Bomb
TechRepublic