Although many camera gear review sites give the edge to G12 over P7000, the difference is just that, a small edge, even with P7000's known flaws regarding slow RAW write times and focusing issues. Since I'm a Nikon DSLR user, I can use my Nikon Flash on P7000 to give me more flexibility in using this camera. Otherwise, I would have gone with G12 as I think Canon does P&S cameras better than just about everybody else. However, that was the thought process when the camera prices were comparable before the huge price drop on P7000 AND the necessary firmware update (version 1.2) from Nikon. At this price ($229) along with firmware update, it's almost a no-brainer in picking P7000 over G12. For the price of P&S slightly above the economy model, you are getting a fantastic, albeit previously flawed, high-end P&S camera.
For the price of middle of the road P&S price, you get a fantastically capable high-end P&S camera. The image quality of this camera was never in question, just check with various photo gear sites. It was the slow RAW write time and focusing inconsistency that caused this camera to get bad reviews. The firmware update effectively corrects these problems.
Only thing lacking about this camera is 1080HD video capability that some of the newer and even cheaper P&S cameras have.
It does not get the firmware update through the USB cable. You have to download Version 1.2 (Dec '11) from the Nikon site to your desktop then click and drag it over into your SDHC memory card. If your computer can't read a SDHC card directly, you'll need a card reader. Then put the card into the P7000 and scroll around to find the firmware update. The camera will take it from there. FYI Ver. 1.2 does contain all that was in Ver. 1.1.
I bought mine in 2012: In the box you will find: Camera, 1 Battery, 1 Wall charger, 1 Data Cable, 1 video cable kit, 1 Manual (a full one), 1 CD with Drivers. The first thing you should do is verify and upgrade the Firmware (1.2 version). I still have it, it is a great camera. Check real user pics at flickr