See, that's where I don't get it; my wife's 4s is the *only* half way 'keepable' phone camera but it is nothing compared to any of canon's entry-level IS cameras.
Most people don't care about quality!!! All they ever do with their photos is post them on FaceSpace. They don't even make 4x6 prints. For these Non-Photo-Enthusiasts a camera phone makes more sense than a Real Camera, 'cause they can post to Social Sites directly from their Smart Phone (no computer needed).
The SX40IS type cameras are super light and get great IQ for the price ...
But you can't make a phone call on them or post to directly to SpaceFace
We're pretty sure this camera's price isn't going to be cheap and nothing is going to be revolutionary on it . . .
I'm not looking for a cheap price! I'm looking for a small/light camera and I'm willing to pay a reasonable amount of money to get it. The M4/3 Olympus OM-D E-M5 sells for $999.00 and there is a waiting list to get them, so it's not just me wanting this type of small/light camera.