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One brief comment with regards to the SX120/SX20 and shutter lag/response times. As they use the same processors and buffers there shouldn't be any difference unless Canon have specifically slowerd the SX120 down. Firgures suggest the SX20 is slightly faster but not much (a few milliseconds only)
With SLRs things are a little different. It really depends on which lenses you're getting as part of the kit. Personally I like the older Sony's but the new ones seem really plasticy, cheap and poorly screwed together so I've gone off them a bit!
I started with an Olympus and loved it. The only caveat I would add is that the E-420 doesn't have image stabilisation in the body and you can't buy stabilised lenses for the 4/3 mount. If you can get an E-510/E-520 that might well be a better option.
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