Chris,
I haven't ever used the camera, but it looks pretty nice based on DPreview's comments.
There are a couple of things that concern me, however. If you intend to "move up" in your herp photography, you might want a camera that allows you to use an external flash. This camera doesn't have a hot shoe, which for me at least, is a big problem.
Also, there is a lot of optical distortion at the highest macro settings. Not a problem if you don't plan on getting too close (its telephoto macro setting looked good).
I owned a digital P&S for a couple of years before I bought my DSLR. The one thing I found REALLY frustrating when taking herp shots was the inability to manually focus. I took a lot of pictures where the camera decided to focus on something other than what I was interested in. At night, it was really terrible at focusing!
Here's are a couple of examples of where it failed me
Here it was dark and the camera just wouldn't focus on the Western Chorus frog, no matter how much I tried to manipulate the angle, distance etc. I could see that it wasn't in focus but I had no ability to manually correct it! It was very frustrating -

In this case I wanted the frog off center. However, the camera insisted on focusing on the branch and I couldn't stop it from doing it. Again, I cursed my camera for not having manual focus at that moment!

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Chris Harrison
Central Texas