Originally I bought this as a replacement for a faulty SX200is (one of the first hi-zoom cameras around). I wasn't expecting much from it, with a 14Mp sensor, I was expecting more noise in the pictures at lower ISO levels than before. A function of squeezing more pixels onto the same size piece of silicon. However I have been pleasantly surprised with the photo quality, and some of the included features. I won't go into huge detail, except to say that in everday use it is superb, and very easy to use at a moments notice for those instant photos you might otherwise miss.
Some pros:- superb 'tracking' feature allowing you to track a subject in focus even when they move about the photo frame; light and quick to start up; large 3" display on the rear; a flash with quite a good range and that doesn't pop up constantly (you have to open it up when wanted); 720p movie recording via a dedicated button on the camera back; the addition of several fun modes including a 'miniature effect' function; a quick acting 12x zoom, and if you reduce the pixel count (e.g. down to 7Mp) that zooms further without loss of quality; standard AA battery usage, not dedicated Lithium-ion, means replacements are easy to find if you're caught out, though this is balanced out by poor battery life on alkalines they are still good for emergency usage.
Some cons:- poor battery life with standard alkaline batteries means you really have to use hi-capacity NiMh rechargables to get a good life span from the camera between changes (I reccommend a minimum 2100mAhr at least); no view finder means you have to rely on the large rear panel (but on the up side it's easy to view in most conditions so far), the loss of the 'panorama stitch assist' function is a big downer for me as I used that one an awful lot.
P.S. Search on eBay for this camera, and if you don't mind a refurbished item direct from Canon (with a full 12mth warranty) you'll pay less than £50 for this excellent little camera. I did.