I recently retired my Canon 40D (after 5 years of service), and replaced it with a Canon 60D. I love my new camera, but loved my old one as well. I think the answer to the question is that it depends on what you need the camera for. If you're a serious amateur who needs a wide range of options, and has a wide range of photographic interests, you'll want interchangeable lenses and the ability to shoot in full manual mode.
If you only want a point and shoot, I'd get something that fits in your pocket, and can take high-res stills or HD video. Either the Panasonic Lumix DMC-SZ5 (WiFi enabled) or the Canon PowerShot ELPH 110 HS would make excellent choices.
But as I said, if you want to be able to take any sort of shot, in any sort of light, with closeup detail, you really do need a full-on DSLR with interchangeable lenses. For example, here's a shot I took with my Canon 60D of the last full moon, full zoom with a 300 mm lens. Even though there was plenty of water vapor in the air, I was able to get a decent shot that I couldn't have gotten with a point and shoot:

Here's an action shot taken with my 40D, 300mm lens:

Or, this one, shot with a macro lens:

Rob