I'm a Nikon DSLR guy as well, but my recent point & shoots have been Canon. As has been mentioned, if you shop around you can get some great deals on discontinued models. For example, around the holidays there were several rebate deals on the camera I ended up getting, the PowerShot S110. This is very pocketable, durable, excellent image quality for a small sensor, and what I really wanted, the ability to shoot in RAW. The deal I went with is similar to what Canon is currently offering: BuyDig.com

After rebate, and selling the packaged printer, my out-of-pocket for the camera was $25. The S110 is currently selling by itself for ~$250.

If shooting RAW isn't a requirement and/or you want something just a bit smaller yet, the Canon PowerShot ELPH 310 is another older, excellent model. I got this for my wife for Christmas for $100.

Good luck, happy shooting!