A new shot has been fired in the convergence of these two types of cameras. Casio has released the EX-F1, which can capture sixty six- megapixel frames in one second with a 12x zoom and optical image stabilization. At low resolution this same camera can capture movies at 1200 frames per second, as well HD at 1080i H.264 and 720p H.264. Admittedly, these recordings can only be made for a few seconds or less, but that limitation is due only to the storage media. If output were available to a computer the results would be very much like video. No info available on the color space - anyone have any experience with this camera ?

Gizmodo had a peek at it:
http://gizmodo.com/381363/casio-exilim-ex+f1-tomato-violence-at-300-600-and-1200fps