What quality compact do you own?

Hi. I have a 40D and a 1Ds2, but am after a quality compact to take along when I don't need the weight and hassle of a large DSLR.

What do you recommend? I am vaguely thinking of the Canon G12. Funds wont allow Leica etc. What do you chaps shoot? I am tempted to stay with Canon as I know my way around the software and the cameras, but would consider other brands if the IQ and value for money was worth it.

To be honest this is a birthday present to myself. I am also considering upgrading my 70-200l f4 non IS to an IS version, or getting a 135L. On balance, I think I would get more use from having a quality compact with me wherever I go, than a different lens.

Your thoughts appreciated.

Thanks in advance.

Jon.