Well You can shoot in RAW as well with the SX40, if you use CHDK.
The zoom difference between 840mm and 1200mm you can see HERE.
Here some birdpics i shot with the SX40, handheld!

IMAGE LINK: http://www.flickr.com/photos/mikedie1/7664088154/

IMAGE LINK: http://www.flickr.com/photos/mikedie1/

IMAGE LINK: http://www.flickr.com/photos/mikedie1/
