After just having spent a week in Kauai with a Canon S90 in my pocket, I can tell you that this compact is a godsend on the road. The ability to shoot with a fast f/2 lens in low light and save the images in Raw means that I rarely miss a photo opportunity.
Now, with the just-announced Canon S95,a great camera gets even better.
Canon has added HD 720p 24 fps video, click stops on the back control dial, improved stabilization, enhanced front control ring, and a high dynamic range mode. These improvements address just about every nit I had with the S90. It's an upgrade that I'm going to get as soon as I can.