My pick FX48.
1) Fuji is good if you're trying to take low-light shots w/o flash
and better than most other digicams out there for this at ISO 400+.
2) However, for all other uses, like daylight shots, low light shots
with auto flash, etc, you basically get the same performance from the
smaller, slimmer, more pocketable FX48.
3) Add to that the fact that the FX48 can detect pre-programmed faces
of family and friends and adjust AF/AE priority for them, and can
take HD movies, it's simple which one to go with.
4) In Japan, the FX series is one of the long-time sellers year after
year - reliable (according to this year's Consumer Reports - the most
reliable brand of digicam), lots of features (intelligent Auto, named
face detection), pocketable (light and small enough it doesn't feel
like the mini-rock the Fuji is), and is the only one with true 25mm
wide angle zoom.
5) And unfortunately, the F200 still can't beat the F31fd at higher
ISOs (thus, if you're really after a P&S that has great low-light,
high-ISO, no-flash shot capabilities with superb battery life, go
find a used F31fd on ebay.com instead!
In the ol' days, the FujiFilm digicams with SuperCCDs up to the F31fd
level used to be great digicams to consider for day and low-light,
but nowadays, pretty much every digicam will do a decent job all
around, and the top of the line digicams of any brand will pretty
much do a very good or better job all around.