dave veneri: way to go Canon with the stupid 1080 24fps. Most better p&S are doing 1080 30 and 60fps. Way to go .
24p is good for the cinema feel, but if you're aiming for a cinema look, it's likely that you'd be using a better camera. For P&S use, I'd prefer the 30p or 60p smoothness. You can slow things down, which is a plus. Say you see someone make a great catch at a ball game, or something spontaneous - the 60p is much more useful.
I'm sure Canon had a technical limitation that resulted in the limited 24p though.