The photography enthusiasts and blogosphere are buzzing with the news that Canon has announced the flagship 10.0-megapixel PowerShot G11 with a retail price of $499.
Yes, the new model features a lower resolution in order to create larger individual pixels on the imaging chip that absorb more light. According to Canon, the system combines the new 10MP chip; optical image stabilization; and the camera's Digic IV image processor to produce better images in low light at high ISOs. Some professionals have asked for a halt to increasing cameras' resolution since it also increases noise when using small imaging sensors.
Notwithstanding Gary Knight's experience with the G10, it will take a miracle to convince me to part (again) with almost $500 to acquire a "street shooter" camera such as the G11. I've done it with the Canon G10, and was disappointed by its performance during my photo expedition in Morocco. You can read about this here.
Also, a sensible post by Matt Burns on CrunchGear about the G11.
And much more information on 1001 Noisy Cameras.
Note: Some commentators believe that the G11's image quality will be an improvement over its predecessor...but what is also crucial to my style of photography is shutter lag. The G10's shutter lag just didn't meet my expectations.