The newly announced Olympus SP-550 UZ seems to be all set to kick some digital camera butt. On paper, the specifications look really impressive:

• 7.1-megapixel.
• 18x optical zoom, 28-504mm (35mm equivalent). 28mm is GREAT on the wide end (for a digicam class camera) and 504mm is long enough for most applications.
• Dual-Image Stablization, high ISO (up to 6,400!) combined with CCD-based mechanical image stabilizer.
• 2.5-inch 230,000 pixels LCD. Not the largest, but decent enough.
• Up to 15fps burst rate (reduced resolution for high burst speeds).
• Super macro mode (focus distance of 1cm).
• Runs on 4 x AA batteries.
• Uses xD-Picture Cards for memory.

Perhaps the xD card usage is the only drawback. The camera will launch next month at an estimated price of US$500. Reviews are around popping up! Here are some: PopPhoto, ImagingResource, and DigitalCameraInfo.