What's important to you?
Make a matrix and let that decide for you. Next generation is 6 months away and agreed, the next generation will not have 1920 x 1080 video in a 1/1.7" CCD chip though Canon could have something up its sleeve, one never knows? They own their own chip manufacturing including a CMOS plant west of Tokyo.
Or you might just wait and get a Lytro camera....www.lytro.com. Due out in 2011 sometime. Instant photo, no focussing, light field camera, will be introduced as a P&S form factor. (I'm kidding around about waiting for this, but it will be interesting). I watched an interview with the CEO and from what I can tell he sort of "gets it" from many angles (irony intended).
Taking photos now?
Cost? Price for what you get?
Low light photography?
Zoom?
RAW
Manual control: M, TV, AV, etc.
Sensor size? How big will you ever enlarge?
Brand? Do you care what brand?
Form factor?
Hot Shoe?
Put each camera in that matrix and see where the cards fall.
Consider the S95, Nikon P300, Sony DSC-HX9V, Lumix LX5, Olympus XZ1 to name a few.