Well, Nikon is trying to sell it's equipment, so it is hardly an unbiased source of information. I agree with those who posted before; the photographer is (almost always) more important than the gear he is using. On the other hand, I have certainly encountered situations where my gear was insufficient for the task at hand.
For kicks, here are a few old point and shoot shots I took, 4 years ago:
Mount Cannon and Bird Woman Falls [explore 08/29/11] by
posthumus_cake (www.pinnaclephotography.net), on Flickr
reflections by
posthumus_cake (www.pinnaclephotography.net), on Flickr
into the storm by
posthumus_cake (www.pinnaclephotography.net), on Flickr
wild wool factories by
posthumus_cake (www.pinnaclephotography.net), on Flickr