If I could be so bold -- RAW, IMO, is of questionable value on a small point and shoot (not no value, just questionable for the amount of effort needed to process it). I would look at RAW as a nice fall-back, but don't buy a point and shoot just because it has raw UNLESS you are looking to do a lot of post-processing work, or you have the software and know-how to set up RAW workflows.
For the Pannys, you can use their included software to do some minor corrections, then save as a tiff, and then work on the tiff in another application (assuming you don't like the Panny software).
My apologies if you already know all about RAW, but if you are thinking you should get that compact camera to learn how to use RAW, then I'd warn you that you are in for a steep learning curve with limited benefit (small sensors have limited dynamic range, more noise, and less color bit depth, so although the RAWs might get you some better color or highlight recovery, you are going to swim through a lot of noise from the sensor, and you'll still not be able to recover as much as with a DSLR).
I do know folks who do get benefit out of RAW on their small cams, but they were either willing to put in the learning time, or they already had a RAW workflow and expertise from DSLR work.
Sorry for the pessimistic post, but I just thought a word of warning might be of help.
Good luck and happy shooting.