Ken Rockwell thinks so:
Much more after the link. Pocket sized, manual controls, wide-angle, decent zoom (3.8x), and a fast lens. It looks like it just might be the ultimate travel camera.
Every so often a camera comes out that stands out from the rest.
The Canon S90 is one of those cameras. I've already used a prototype, and it was impressive. No one has seen production samples yet; the S90 is slated to ship starting in September 2009 to those who order it today.The S90 beats Canon's own flagship G11 at its own game. The S90 has the same oversized sensor as the G11, but adds a faster f/2 lens, direct control rings and a bigger LCD in a smaller, lighter package for less money.
I used to have one of its predecessors -- the Canon S45. It was a wonderful camera that got me through New Zealand and Australia, India, and most of the way through Panama... until it fell out of my pocket onto a concrete floor as I was climbing out of a hammock. I was so impressed with the pictures my S45 took, I've bought nothing but Canon point-and-shoots ever since. (With the exception of a waterproof Pentax Optio 33WR I bought for kayaking in Antarctica.) I'm pleased to see Canon re-introduce the S series compact cameras geared towards more advanced users.