Late adopter that I am, I just acquired a Canon Powershot G9, a point-and-shoot with RAW file capability. I'd been intrigued with Paul Butzi's series of entries about the G9, basically as the walking-around camera when the 5D was too much to carry (and I love that he first got the 5D as a walking around camera in lieu of the Linhof 4x5). I've been facing the same issue, and since my neck injury I've been more reluctant to heft the big rig everywhere I go. There was a shooter on the Newspaper Video listserv getting rid of his G9, and I pounced.
I flirted a couple of years ago with a p&s, and decided that I just didn't like seeing the world through an LCD. Ultimately, it was being stuck in jpg land that made me toss the camera back where it came from (Glazers bought it back—a great reason to buy local). But in video, I can only see the world through an LCD, so I figured I'd just better get used to it.
First impressions, from someone unfamiliar with this genre of cameras: it's a cool little beast with a lot of usability. It's sharp. I like that I can poke it into my subjects (like my flowers). I like that I can actually manually focus it. I really like the RAW file thing. At 1600 it's noisy, no getting around it. But, you know, it's a kinda pretty noise. It reminds me of old 1000 speed Agfachrome.
When get my Sandisk SD reader to work on a Mac (it sees the reader, but not the card—any ideas, anyone?), I'll be even happier.