Marty4650: This camera seems to be very similar to the much cheaper Panasonic G1X.... except the G1X gives you built in pop up flash, a built in EVF, digital zoom, and lenses with OIS built into them.
I see Amazon has the G1X down to $559 with the standard (non folding) kit lens.
Canon needs to offer a better value than this one.
I just bought the Panny GX1 to try something different. Not a good choice by all means if you're used to a DSLR. The image quality was not nearly as good as one of my newer Canon point and shoots.