These are great responses, much appreciated. I should have mentioned budget: I'm fairly flexible, but thinking around $500. I'd pay more if justified. Ooh, it looks like the Canon GX10 and Sony RX100 are right around that level, so that's perfect. Compared to the last time I was buying a compact (2005), things have come a long way, so it looks like I'll be getting a lot more (bigger sensor, aperture and LCD, better manual controls and image quality) and paying a bit less than last time.

Telephoto is not of much interest to me, nor are features like external flash - but battery life, wi-fi or GPS are.

Interesting question whether waterproofing is worth having. I don't really do any watersports, and I don't take that many photos in rain (who wants to stand around being wet?), but not having to worry about the camera being rained or sweated on would be nice.