Canon announced in September the G10 top of the line point and shoot camera with 14.7MP resolution.
I heard from a photographer that apparently more and more professional photographers have been using the previous G9 camera instead of their expensive DSLR equipment for calendar and magazine shoots.

Other feature highlights of the Canon G10 include 3 inch screen, 5x zoom, 14.7MP resolution, Advanced Face Detection Technology, Advanced Motion Detection Technology, Face-Detection Self-Timer and 26 shooting modes.
The Canon Powershot G10 is a great alternative to DSLR if you just want DSLR quality photos without the size and complexity of a DSLR camera.
The Canon G10 is selling on Amazon.com for $499.99 (Ships this weekend).