Digressing a little, I recently got to thinking that it's actually easy to confuse a "point and shoot" camera with a "take everywhere" camera, whereas the two are not necessarily one and the same. A P & S is IMHO a camera to take when I'm going somewhere, expect to take photos and wish to do so with the minimum of fuss and encumbrance, where perhaps photography isn't the main object of the exercise such as a walking holiday. A P & S will typically by definition have auto everything and likely a zoom lens. On the other hand, a "take everywhere" camera is one that may not get used for weeks at a time but gets hauled around "just in case". When "just in case" arrives, however, it has to work which, in my book, means not being reliant on batteries that may have died or refuse to work in cold temperatures (experience talking!). Thus, they are both typically small and (hopefully) light, but do different jobs, which I probably took too long to realise.
Is there one camera that will do both jobs? I suspect not but having become rather disillusioned with P & S cameras, I'm taking a step backwards and experimenting with the Petri Color 35 - small, retractable 40mm f2.8 lens (of allegedly reasonable if not wonderful quality), speeds to cover most eventualities, CdS meter but fully manual operation regardless of battery. For some reason, these have achieved cult status amongst an avid band of followers. I hope their enthusiasm is not misplaced as I've just bought one!
Back on thread, the biggest disappointment for me in a long time has been the Olympus mjuII (Stylus Epic in the US?). On the face of it, the f2.8 35mm Zuiko lens, the camera's weatherproof construction and genuine shirt-pocket size make it seem ideal. However, the camera will insist on using flash rather than a longer shutter speed, which necessitates having to keep turning the thing off, flash shots are frequently overexposed, there's no infinity lock for shooting through glass and (worst of all) mine lets light in around the rather tenuous-looking rear door seal. Depending on the amount of light, it sometimes gets beyond the perfs into the picture area. However good the lens is, it's no use at all if unwanted light gets at the film. Apparently this is a common problem.
Steve