According to Wired writer Mark McClusky, the new Canon S90 is all that and more.
Two big features he points out are the glass:
“It’s got a 28-105mm equivalent lens, a nice wide angle at the short end, perfect for large group shots and landscapes.”
and the speed of the lens which goes down to f2, that is extremely impressive. I also want to point out it looks nice and compact, easy for the front pocket.
I forgot to mention the control ring that surrounds the lens — much like a focus ring on a DSLR, but programmable so you can set it to control any function you want from the camera.
10 mp will cost you $430.00