It's a point and shoot, but not as we know it...
Yes, it has all the standard point and shoot features but it also has
- a reasonable (not fantastic) optical viewfinder
- aperture priority, speed priority, manual, program and auto modes in addition to the by now standard pre-set scene modes
- a decent stabilisation system to ward off camera shake.
You can even get add-on lenses for this little beauty, though for me that would negate its really value as something you can hang off your belt and forget about until you want to take a picture.
It really does seem to have gone a long way towards being reasonably compact and light but also capable of being used creatively. Mind you, the flash doesn't have great reach.
You can find them on the internet for less than £115, though you'll spend another £15 on a fast 1GB card to replace the laughable 16MB cardlet that comes with it, and then another £15 to get the Canon pouch for it. You'll probably want to get some NiMH batteries (2x AA) and charger as well if you don't already have some.
But then you're done. It's light on the wallet, light in the hand, light on batteries and punches well beyond its weight.