For a nice compact camera that takes excellent photos the Canon Powershot SD1200 is a grteat value. I have a Canon Rebel XTI SLR as my main camera but use the Powershot when I don't want to carry a large bulky piece.
I finally bought a point-and-shoot as a type of insurance. I didn't want to keep borrowing my wife's DSLR and potentially drop it at the range or elsewhere. Momma would not be happy!
I like my Sony Digital mainly because my Sony TV accepts the Memory Stick and will automaticlly begin a slide show when inserted. Find one that has Night shot or night framing capability, my Sony has those features and they come in handy.