If a 35mm film compact was possible why not a large sensor P & S possible?

[AaronLLockhart]

There were some good compact 35mm cameras out there. The legendary Rollei 35, for instance.

Also, a lot of the "standard" SLRs were almost compact by today's standards. I have a Nikon FE2 on my desk thats smaller than any DSLR made (albeit heavier than some).

I completely understand that. I have a Pentax ME Super that feels absolutely tiny in your hands. However, I think he's more along the lines of speaking of this:

http://imgc.classistatic.com/cps/poc/121226/149r1/02833b1_27.jpeg