Both you and the review are correct, the so called manual mode doesn't allow you to choose both Aperature and shutter speed, and that's a big limitation; however, it still allow you to do some special cases.
I checked the ISO. It's funny how ISO was used for the films and how they are being used for digital cameras. For the filmed cameras, we got an idea how the speed/granularity is like with we choose between 100, 400, and 1000. Different cameras but the granularity of the same ISO gives you v. close results. Nowadays your ISO 400 is not the same as my ISO 400, maybe the senors can sense the in comming light at the same speed but the singal to noise ratio are different from camera to camera.
F30 claimed the availability of ISO 3200 but many would commented the resulted image is having the quality of a water color painting. Yes, it is. However, the real question is, does the corresponding low ISO offering better images. e.g. ISO 100 to 400. I used the point-and-shot F30, set it to ISO 400 and shot a picture with tele, then another camera with the same setting, tele mode as well. The image at the far side was a document with large font characters. After taking those pictures, I zoomed in too see how well the characters was formed. The F30 does have a more clear defined boundaries for the characters => lower noise to signal ratio.
Of course, I can still see the difference between ISO 100 and ISO 400, or even between ISO 100 and ISO 200, with a slight magification. So enough lighting is still the key for the picture, from strobe or natural light. Plus, of course, the amount of light getting into a DC lens is going to be different from the amount of light getting into a DSLR.
However, provided that there are plenty of light, many mini DC can perform well already. I searched around and found this picture, what do you think?
This is pretty crazy... f30 mouted to a Swarovski telescope:
http://333.fotoc.com/wealthy/d/212-1/2006_0115tri0025.jpg
http://333.fotoc.com/wealthy/d/206-1/2006_0115tri0016.jpg
http://333.fotoc.com/wealthy/d/218-1/2006_0107tri0130_filtered.jpg