dpreview is to cameras what bf is to bikes, with one exception - dpreview has reliable information!
for compact's I also think that
http://www.steves-digicams.com/ has good reviews.
I had a pocket Panasonic Limux LX-5. I ended up selling it because it's just not that much better than the camera in my iPhone, and the iPhone is always with me. When I want to go out to take photos, I take the DSLR. So, I echo the comments on a cheap camera being redundant in the days of smartphones.
If you want something that'll provide a telephoto zoom (something you can't do with an iPhone), then I guess I can see carrying a separate camera on my bike. The review that merlin linked to is a good starting point, although most of the cameras there aren't going to give you a ton of reach.