In my smallish photo bag go: extra battery(ies), memory cards, polarizer filter, mini tripod (Minox's "pen", the best), Swiss Army Knife (Victorinox Superchamp), plastic bags, rubber bands, LED mini torch (Ledlenser P2), little 2.5" hard disk (1.5 TB), something to take notes. Eyes, sensitivity, wits... hopefully go on me. - "The perfection of something seems to be attained, not when there is nothing more to add, but when there's nothing left to take out." Antoine De Saint Exupery, pilot and author of "The Little Prince"
Compromise is inevitable. And -for a photo camera- some things are expected. Exposure, focus, white balance, etc. ... BUT with manual overrride in a "serious" compact. I accept "lesser" power or ability in a camera for my "simple souvernir" images. I agree with most of what you all say, and always say: "as far/big/cheap as small as possible" ...etc. Bigger sensor, faster lens (I would have enough with a zoom lens compact going from 28 to 135 equiv. For anything else, interchangeable lenses. A little built in flash for fill-in, and hot shoe. I never had problems with screen in sunlight, but prefer swivelling ones. I'm not sure viewfinders are still "evolved" enough... my film SLRs didn't offer alternative techonologies, so they were not a matter of discussion, beyond brightness and aparent size (important points, no doubt).
So, today I find things like Canon G15, Nikon P7700 like "plenty of camera / to little sensor". Do I make myself clear? Good luck to all, and happy shooting.