Canon G12 vs. Olympus XZ-1 vs. Other Contenders?

[frownsarefun]

I`ve been reading up on the more higher-end P&S cameras out on the market and am having trouble deciding.

I had a Canon G10 before and thought it was a solidly built performer. But seemed easily noisy and as everyone tends to mention, it`s a bit bulky for a P&S (though solid).

Currently I was thinking about the Canon G12 vs. the Olympus XZ-1. The lens on the Olympus is really fast throughout its full zoom range, which is nice. And the vast majority of reviews for the Olympus have been quite favorable, with minimal add-ons or changes recommended.

But it always seems to come back to the debate about sharpness and clarity and the imaging processor of both cameras and the more finer details I start reading into, I am not sure which would be better.

I thought about the Canon S95, but I don`t like the feel of the shutter release when you half-press it. Feels strange.

I like the Ricoh GR Digital III, but fixed focal length. I prefer a range, so want to rule this one out.

My needs are for a camera that can take the place of lugging around a full sized DSLR, for those moments when you see something and wish you had a camera. I know that no review will be 100% on a camera. Just as I know there are pro photographers who do entire projects with cheap, outdated digital (and film) cameras.

Is there anyone with a logic behind which way I should go - G12 or Olympus - or any other as-close-to-pro-P&S suggestions.

[inkista]

If noise is your main concern, I'd actually stop looking at the small sensor P&S cameras. There are no quantum leaps of performance improvement in this regard between the G10 and the G12, afaik, and chances are good you'll still just be frustrated with small-sensor performance.

Even though they're more expensive, I'd start looking at the mirrorless compacts, like the Panasonic and Olympus micro four-thirds, Sony NEX, or Samsung NX cameras. If you have a ton of money to throw, there's also the fixed-lens Fujifilm X100. These cameras have much larger sensors and as a result, noise performance that's equal to those of dSLRs. They're larger than P&S cameras, but not by a huge margin, and if the size of a G wasn't a problem, these may be in the ballpark.

Also, fall announcements aren't done, yet. The G12 was announced around the end of last year. Chances are good a successor will be announced in the next quarter. XZ-1, though, probably won't see a successor until the spring.

[eyalg]

According to what you wrote, you should also take a look at the new Fuji X10.
It's not in the market yet, but it will be soon (well, the S95's replacement too).

Also, if your budget allows, you could gen a Panasonic GF3 with a 14-42mm lens -
that will provide a much larger sensor than any compact (but a smaller max aperture).

Between the XZ-1 and G12 - I would take the G12 for its ergonomics (so much fun to use!)
but the XZ-1 for its low light capabilities and (relatively) shallow depth of field.

-eyalg

[cyber3d]

You need to get a few small SD cards, go to a local camera store that has all the cameras you are interested in and take a bunch of the same photos with each of the cameras. See how you like the "feel" of each camera and do a close examination and comparison of the pics on your computer. Then you can make an informed decision.

You'll likely nee a few SD cards because different camera manufacturers have different formatting requirements.

[PDP]

I'm looking for a similar thing.
If possible good enough to take stock photos, but under $700 ish

Any suggestions??