Canon just recently announced the upgrade to the popular Canon S95 and SX30IS, replacing them with the new Canon S100 and Canon SX40IS. These are two very popular cameras with features like full manual controls, 1080HD Video, Shoot in RAW, and can zoom from 24mm-840mm (35x). There's already an Amazon page dedicated to each camera with a full breakdown of features including information about the new CMOS and Digic 5 image processor.
The Digic 5 processor is said to be 6x times faster with 75% less noise than the Digic 4. The ability to auto white balance has also been greatly improved. Umm hold on, was that 75% less noise? Those numbers are a major improvement. Think of this as a sneak peek to what we'll be seeing in future DSLRs. Definitely worth the read - found below.