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I'm looking to make my first foray into digital market with a small point and shoot. I'm willing to ultra compact or compact. I want something easy to carry and I'll probably run by Samy's later this week to try out the models I"m thinking of.

Here's what I want.
Above average low light performance, at least up to iso400, preferably with an iso200 option.

fairly fast lens speed. apparently 2.0 is the best point and shoot digital can manage, so ideally I'd prefer to stay at 2.8 rather than having to move up to 3.3.

at least a 5x optical zoom, though I'll settle for 4x. I don't need this camera to be really wide, but I'd prefer to have the optionto at least get near 135 if possible, so I'm biased on the 80-135 best performance range

great, reliable white balancing

manual mode, preferably with shutter and aperature priority,
though I'd settle for fewer manual options in this small camera as it would probably be set to auto most of the time I still like to have options.

accurate color. doesn't have to be spectacular, I just don't want to have to fix all my photos in photoshop like I fix all my family's photos in photoshop. white balancing goes a long way here, more important really.

fast refresh rate, my parents have an awful digital camera that has like a 5-7 second refresh rate, and still takes a blurry shitty picture, and it probably takes 12 seconds to refresh if you use the flash, which you have to use to get a decent picture. 2 frames a second is sufficient.

resolution and price are not so important, anything above 6MP is probably satisfactory. Under 500 if possible, though I'd go over that for a camera that had everything I wanted (which I know isn't out there).

Basically I want a Panasonic LX3 with a decent telephoto option, that camera is everything I want except the lens is all wrong despite being a fantastic lens for such a little camera (gah this is why I haven't used point and shoots in years) :/. The TX5 is high on my list, I'll probably look at the 500XS as well, and a couple canon I'm looking at as well, the XS110x the new 990, heck even the TX1 looks like a better possibility than most. I'm biased towards canon and fuji because I like their film cameras and stock respectively, but from what I was reading last night, Panasonic and Canon seem to make the best point and shoots. any highlights I'm missing from other brands, I'm not going to be buying for probably another two or three weeks, and I'll certainly shop around, but any help will be appreciated.

heh, all I really want is a camera that performs as well indoors as a film SLR with 200-400 stock and a 50/1.8 lens. too bad digital can't seem to manage that.