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The SX500 IS is a new addition to Canon's PowerShot lineup featuring a 30x f3.4-5.8 24-720mm lens, a fixed 3-inch 460K-dot resolution, a 16-megapixel CCD sensor, and an older Digic 4 image processor.
Canon used a 3-inch 460K-dot-resolution LCD, but it's fixed, unlike the vari-angle one on the SX40 HS. And if you like having a viewfinder, forget about this model.
The SX500 IS hits stores in September for $329.99.
The SX160 IS is the update to the SX150 IS, Canon's 14-megapixel 12x compact megazoom that runs on AA batteries. The new version gets a resolution bump to 16 megapixels and a 16x f3.5-5.9 28-448mm lens.
Aside from the AA batteries and the zoom lens, the SX160 IS has shutter speed- and aperture-priority shooting modes as well as full manual controls -- rare features for this class of camera.
Available in black and red versions, the SX160 IS lands in September for $229.99 ($20 less than its predecessor's original price).