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The specs look very similar. The 24mm on the P7000 could be useful compared to the G12 28mm when shooting video. One thing to consider when using photo cameras for video, they all lack useful autofocus in video mode. Some have it, but it does not work very well, others do not support it at all.
Why did you narrow it down between these two cams? Give some examples on what you are planning to do with it.
former TacticalGamer European Division
A Tactical Gamer since 2005 (the glorious days of BF2)
Is video recording your primary concern? Or are you just looking for a point and shoot camera that can also capture video?
I want two things: better pictures than my former P&S Canon Powershot SD960 IS. And 720 HD video of comparable quality to my Powershot, but hopefully better.
The G12 and P7000 are considered semi-pro cameras (and they do take very nice photos). I am trying to recreate videos (same conditions) with the p7000 as I took with my Powershot, but this is not as easy as it sounds.
I'll link a few of the P7000 videos here after classes today or tomorrow.