I'm testing the new Canon S90 (not new as in new, but new as in just bought it). The camera pushes lots of right buttons near my heart. It's small as all cameras should be. It makes astonishing color pictures and although I'm still not truly convinced by the black and white pictures I suspect that's due to the fact that I haven't mastered all the things this canon S90 offers. One thing I turned on is the Intelligent Auto Contrast. It's just a way of compressing the dynamic range of the photo. In situations like this one in the photo, where the scene is highly contrasty it works very well, like in HDR photography. But when shooting BW... hm I still don't kown (I'll post some BW photos in the following days). I had to punch contrast a bit in all of them.
My ideal small camera is the one that takes great, sharp BW Jpgs out of the camera. The amount of contrast has to be just right, not to much, but enough. Until now, this canon S90 is the on that got it better, but as I said... I still need to test it a bit more.