Jony is a cool guy. He's clever, creative and conceptually in a league of his own, and I'm a big fan. Messing with Leica, however, is where he should have drawn a line. Not everything in life needs the Ive treatment.
As a lifelong Leica user, I believe the M series—at least the classic M-cameras, not the overly-expensive, underperforming digi-M's—are as close to perfect as possible in both design and functionality. But an Ive redesign of the venerable Leica M is nothing more than a status symbol for the fabulously wealthy, those who should already be contributing freely to fight AIDS, malaria, and tuberculosis... without getting something fancy in return. It's something the fortunate few will likely put on a shelf, never having shot a single photo.
I'm fairly certain that a camera FOR art is why Leitz optician Oscar Barnack invented the 35mm still camera in 1923, not a camera AS art.
Every camera maker will forever come out with a new camera every few months. The market is so competitive, do not do so would spell doom for a manufacturer in no time. With wi-fi, the S110 is simply providing another way to get pictures from here to there (which an Eye-Fi card does very well), and the touchscreen is another way to speed up an already fast way to take photos.
That said, I love both my S90 and S100. The Sony may have a "much larger and therefore better sensor", but when you can take a really sharp, colorful photo with either Canon, even at it's slower zoomed range, and then print a decent 11x14 or larger print, then you probably have a good enough camera… certainly considering it's much less money than the Sony.
One thing is true for Canon S models: there are few, if any other cameras you can truly slip into a pair of jeans or an inside sport coat pocket and barely notice it's there.
Sony would be nice; Canon suits me perfectly.