(Or PowerShot SD450 Digital ELPH for you Americans.)
DPRevew have just published their review of the IXUS 55, an update to the popular IXUS 50, and they seem to like it. It’s very small and pocketable (even more so than my little Ixus 750), and although it’s not got the biggest range of features, it’s not at all bad.
I have to admit, I like Canons, and I really like small cameras that can go everywhere with you, so I’m pretty much guaranteed to like this one, but it does sound like a good little compromise to me. DPReview give it a ‘Recommended’, with a few reservations… * Review on DPReview