Here's a nice comparison & write-up on the compacts/point-and-shoot cameras out there:
Underwater Camera Articles: Review: Best Underwater Point & Shoot Cameras for 2009
That article is a joke it is based on what Backscatter sells and that leaves out a bunch of very good cameras.
Any article that is looking for best compact point and shoot cameras needs to consider Fuji and Casio.
They claim that to be considered the cameras needed to fit in a pocket when out of their housing for land use. Some of those tested would require some mighty big pockets.
Then there is the issue of best bang for the buck vs overall performance.
Although the gap is getting closer with the price of digital cameras falling, those cutting edge models still have a premium price while other models may be overlooked because they lack a feature like RAW data handling that may not be worth the premium price.
Learnning how to use a less expensive model to it's limit's and having the budget to add on useful accessories such as external strobes and add on lenses will do more for the quality of photos than having the best camera and being overwhelmed with features that may not help.