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Add RAW to that. Add speed, perfect control, ergonomics, accessories, the ability to customize your kit based on your needs, superb high ISO performance (think 3200 on a DSLR = ISO200 on a buffed up 10-12mp P&S). Dynamic range, per-pixel IQ. You name it.
A P&S is a marketing gimmick. A cheap piece of crap made for the masses - ppl that don't know the first thing about photography , people that can be fool with numbers easily, people who don't know what good quality means in terms of photo gear. They are promoted thru aggressive advertising and extremely shady specifications that look good or work only on paper.
It's amazing how cheap a DSLR system is compared to a P&S if you consider the HUGE difference in quality, performance, durability. There really is no comparison.