Hi and welcome!
Most cameras will perform comparably well in most situations. As you said, the main "flaw" of Panasonic cameras is the low light peformances. If you're willing to use the flash, there's no problem, if you prefer to use ambiant light only the camera will increase the ISO value, thus increasing noise. That noise will probably show to some extend on large pics, but some noise removal programs (many of them free) will greatly help with this.
The effect of noise on your pictures is very subjective, and your tolerance might vary. I suggest you look at sample pictures taken with the camera (you can find some here
http://www.dpreview.com/gallery/Panasonictz3_samples/)
I hope this helps!