Canon Powershot S5 IS

Just to muddy the choices in the large compact market, Canon have announced the S5 IS. This replaces the S3 IS (no 4 though, 4 is an unlucky number). It's an 8 MP camera with a 12X zoom and shift type Image Stabliser. The processing is done with the new Digic III processor. Other features include the 2.5 inch variable angle display and a hotshoe for external flash.

Video wise, this camera will shoot 640X480 with stereo sound, up to 4Gb or 1 hour. This depends on a fast memory card.
Overall this camera looks very impressive. It has features that would make me favour it over a camera like the Olympus SP550.
E.g. IS, the hotshoe and the vari-angle LCD. The 550 does shoot RAW though and has an 18X zoom, with a 28mm equivalent wide angle vs 36mm on the Canon. Now the S5 with wide angle and RAW would be the one for sure!