I got one over the weekend. Bestbuy has them on sell for $379 right now. I've debated about it for a long time. I couldn't justify the regular price of $499, but at $379, I think it's worth it. It's a really nice P&S. I have several dslr and film slr and many nice lenses, but I don't always want to take the time to get all of that out. Another reason I bought it was sometimes you just don't know which lens(es) to take and maybe the venue isn't conducive to taking multiple and switching. Finally, I wanted something that I could throw in a jacket pocket or leave in the car w/o worrying about it. I did want something that had the ability to shoot RAW and had manual settings.
I must say, I'm rather impressed. The IQ is rather nice even on auto mode. It takes some time to get used to it's settings where I come from a Pentax line of d/slrs but it seems to be rather intuitive. The lens has a nice range 28-140mm equivalent. There's plenty of setting and Canon seems to want to throw all the advanced settings as well as all the cookie cutter settings as well. I could've done w/o about half of the pre-set settings. I don't care for the manual focus and there there doesn't seem to be a multi-point focusing option, it's either face recognition or center focus and re-compose if needed. I also wish that you could see your settings while looking through the viewfinder like you do when using an slr, but instead, you have to check them with the lcd screen. Those are my 2 main gripes. I also bought this for the 720p video capability. I think they should've gone with 1080p, but there's really not that much difference. I have a 6 y/o daughter who is in many activities and it's nice to be able to throw it in video mode and capture some really decent IQ videos w/o having to break out our video camera. I'll probably have more home movies now with the g12 whereas before, I probably would've passed on doing so. So far, I'm pretty pleased with it. I think it's well worth the 379. Guess it just depends on what you want it for as to if it meets your needs or not, like most anything else. I think I will have more pictures now just because it's more convenient to carry around for everyday use w/o looking like the douche w/ the "big" expensive camera. The trade off is that people will walk right in front of you while you're taking a pic, whereas w/ an SLR the notice you, stop, and wait for you to take the picture before passing. Kind of an interesting experiment from a social psychology perspective.