I made different experiences with my TVS III. First of all I really like the outfit and feeling when using it. Good viewfinder. I would have preferred a different lens protection, but you get used to it. I am missing definitely a filter adapter. Big mistake not to offer one after the TVS I and II had one. I guess a compromise to this flop door lens cover.
The battery consumption is normal and acceptable, even with 30% flash usage. A flash adapter system like with the T3 would have been also a better solution then the existing one. With the zoom-lens I have mixed experiences. If you use a slow film like Velvia, it vignettes like hell at 30mm in all f-stops and in the second and third zoom position in the first 2 f-stops.
If you use i.e. Fuji Sensia 100, you will not see vignetting that much, but you will still see it. So the faster the film , the better for the TVS III. Since The TVS III zoom is very slow (but industry standard), especially at 60mm, a faster film makes sense anyway.
The lens quality is for a P&S very good, definitely better then the TVS II and I, which have both the same lens. But not as good as the T3. The T3 is even better then my G2/35 combo in picture quality.
I would highly recommend the TVS III if you want to stay flexible while travelling, because of the zoom and the possibility (compared to the Minilux Zoom) to set your own preferences manually. A joy to use, but with space for improvements.
At this price I would have opted more for a 35-60mm zoom for the TVS III but with less vignetting and faster aperture. But you can not have it all. I am sure, if we would have a price tag of 2000 Euro, they would have made a better lens, but who would be willing to put so much money on the table for a P&S? And if it then would be even better then the Contax SLR lenses, who would then buy the SLR?
Dirk