For many people, H55 is probably a better valued camera at $100 less (30%).
Here are the main differences:
1. 720p MP4 video in mono vs 1080i AVCHD video in stereo - my opinion is that video with such compact is for recording of occasions. 720p is pretty good enough. H55 has no dedicated movie button while HX5V has.
2. 4 burst shots at around 2fps vs 10fps, all at full resolution - this may not be as useful as imagined. Many people, like myself, rarely shoot burst. Though I liked it with WX1.
3. 10x optical zoom for both ( I caught this zoom simulator on the net: http://www.infoborder.com/Digital_Camera_Test/SonyCyber-shotDSC-H55?background=patak )
4. 14mp CCD sensor vs 10mp CMOS - not very much difference quality wise in ideal conditions but CMOS sensor is more useful in low light conditions which occur very often. I could take pictures with WX1 (same sensor as HX5V) in any lighting conditions without ever using flash.
5. Sweep panorama mode - a very favourable feature which makes Sony stand out from most others - they are different in the 2 cameras. CMOS sensor version of HX5V is much better.
6. GPS of course - but many people do not even want to know about this!
For me, HX5V has (almost) everything that I want for a compact to carry around all the time and it is future proof for at least a couple of years if not more.
I would happily pay $100 more for it and I have pre-ordered.
$350 is very good value for HX5V, as is $250 for H55.
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