What would you get?

I have a 20d with a couple of lenses but would like a small p&s to throw in my purse and carry with me. I have been reading, but I am having the hardest time deciding which p&s to get.
I would like to keep price below $350, have manual settings, and would be great to be able to shoot raw (don't know if p&s has raw capability) Also, does canon make a waterproof p&s?

Thanks for your help, Janie

Is waterproof a must? What about RAW? Where do your priorities lie?

Overall, I think the 870IS is the best compact P&S out there.

You want waterproof, you'll have to look into Olympus SW790 or Pentax W30.

RAW? G9

I second the SD870IS

and for manual settings the A720IS


.

A720 IS with a waterproof case? RAW hack will supposedly be available soon.