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Cosmetically, the biggest difference between the two is the powerful 10x optical zoom lens on the 330 HS, compared to a still-respectable 8x optic on the lower-end model.
ENGADGET
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They're also making a lot of noise about how rare it is to have a 6x optical zoom lens on a camera of this size, which is sorta true.
ENGADGET: Panasonic's latest digicams: The Lumix DMC-FZ5, DMC-FZ4, DMC-LZ2, DMC-LZ1, and DMC-LS1
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You're also getting a 2.5-inch LCD, VGA video at 30fps, and 16MB of onboard memory, plus, the few downsides here don't sound all that bad: below average life from the included rechargeable battery, only six steps on the optical zoom, and an Exposure Compensation setting that doesn't auto-reset are the only gripes this reviewer had.
ENGADGET: Fuji's six megapixel Finepix F470 reviewed
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The 2x optical zoom is equivalent to a 32mm-64mm lens on a standard 35mm camera, and a 3x digital zoom will help the shutterbug zero in on faraway details.
FORBES: Ten O'Clock Tech: New Digital Camera Uses Tiny Memory Card
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With the 26x optical zoom lens, users can capture the expressions on children's faces at school games and plays, and the action of athletes at sporting events, with a level of detail not visible to the naked eye.
ENGADGET: Olympus introduces Stylus SP-820UZ, SP-720UZ cameras and SZ-14 binocular bundle
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The lens on the STYLUS XZ-10 is a 5x optical zoom that covers a focal range from 26-130mm (35mm film camera equivalent).
ENGADGET: Olympus unveils Stylus XZ-10 with f/1.8-2.7 zoom, smartphone sharing app
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While the entry-level GZ-E320 misses out on the highlight mode, all five models share a 40X optical zoom, 1080p shooting from a BSI CMOS sensor, an SDXC card slot and a 3-inch touchscreen for previewing any would-be masterpieces.
ENGADGET: JVC launches five Everio camcorders in Japan, two with Android remote control