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led me to get a G11 as my stealth travel cam. It leaves little to be desired in that role IMO.
Canon S95 or its slightly newer sibling S100 are amazing cameras. Absolutely the best pocketable P&S on the market. Canon G12 as recommended above is outstanding. Pretty chunky for pocketing, some add'l features, and costs a bit more, but always a good choice. Final recommendation is Canon SX40 HS - a super-zoom, about 2/3 the size of an SLR, same sensor as the two cameras above, but with a MUCH longer zoom lens. Great choice if you need more flexibility and zoom than a pocketable, but don't want full SLR bulk. IMHO, these three are so far beyond the competition in picture quality, optical stabilization and low-light performance that you're literally insane to consider other P&S cameras.
I love my Canon G12...
The only thing it is lacking is an interchangeable lens system.
And in most cases, this is not a benefit, because people use the crappy kit lens. I bet the lens on the S and G Canons is better than their ultra low end SLR kit lenses.