There is an in-depht review of the Panny FZ50 and a large gallery (including some bird-shots) here:
http://dpreview.com/
As far as Leica is concerned, I did some comparision shots with FZ50 and V-Lux1 and the outcome is that I ordered an FZ50 plus a Raynox 2.2x Converter (for birding shots).....
Best regards
Werner
PS: here you can compare Canon D30 and Panny FZ50 birding shots side by side:
http://www.flickr.com/photos/aftab/