Canon IXUS 120 IS / SD940 IS
My IXUS 100 had something stuck in one of the lens elements (got it from the Canon Ebay shop here in the UK). So I sent it back and got this instead. It ended up being cheaper too.
It's never going to get near a DSLR, but I wanted something small and easy to carry when I didn't want to lug the 20D around. It fills that role nicely.