Well with the recent announcement of the Canon S90, I may have what I'm looking for. Canon took the sensor from the new G11 that was optimized for high sensitivity and low noise instead of Megapixel count and stuffed it into a shirt pocket sized camera.
Things I like:
- bright F2.0 - 3.9 IS lens with a really useful range of 28-105mm.
- M/AV/TV exposure modes for photographic exposure control.
- High ISO, low noise sensor - so far samples look better than my G9.
- Shoots RAW - I don't think I'll ever go back to a camera that doesn't shoot raw.