For less than the price of the G1X @ $799.00 . . . . .

Comparing launch prices (does it make any sense?) you are wrong:

s100 @ launch 430$
SX-40 @launch 430$
Sum = 860$

G1x @ launch 799$ (it will surely go down a bit in few months )

Consider that the near-DSLR IQ of the G1X is on MUCH, MUCH better than s100 or SX-40 and your consideration appears quiet pointless.