No doubt it is a good camera. But it is usually insanely priced. Compare it to its closest competitor, the Panasonic FZ 35. You'll find the FZ 35 to have the same features, and slightly better price as well.
i read the reviews and both the cameras are neck to neck,,,in kolkata the service of panasonic is questionable,,,,i enquired many reputed shops in kokata they dont keep lumix,,,,,,
FZ35 does fantastic in-camera correction of purple fringing (JPEGs only) while the SX20 doesn't do any such thing. In shots with hi-contrast edges, this makes a lot of difference. Plus the FZ35 can record in RAW mode as well as zoom the lens in video mode if that's important to you. The Canon does have an articulated screen which can be a real plus when composing certain difficult shots.
As for the lens quality difference mentioned above, it's really not that big a deal as the Leica lens isn't going to be the same high quality glass as a "proper" Leica.
No, Canon SX20 will allow you to slow-zoom as well as quick-zoom while recording 720p videos
btw Bionics, sorry for not replying to your pm about warranty on Canon SX20 IS. I checked with KMD regarding that, but he said we will have to send an email to Canon itself for this scenario.