On a trip back from Tamworth I recently stopped at Pearsons Lookout whch gave me an excellent chance to compare the pixel shift capability of the Panasonic S1R. Essentially this gives you a 190mp file by shifting the sensor a pixel at a time using the full 47mp for each color rather than 47mp of RGB we get 47mp or R then 47mp of G and 47mp of B- effectively the resulting file works out at 190mp once you add a couple of extra shifts.
The drawback is that if there is movement in the image there can be some nasty problems with the edges of thinks such as trees and grass, however the camera does a pretty good job of getting rid of these and the resulting files are pretty good. I have compared them against the IQ150 phase and they are definitely not the same resolution in terms of pure raw detail, nothing can out detail or resolve the IQ150 currently but for large prints above A2 they hold up well.
Johnnyshoots 