I have the S95 and am very satisfied. For some context, I generally prefer to use a DSLR because I have invested in some nice lenses and bodies. I bought the S95 as a pocket camera "backup".

I recently visited London and used it for most of my days (took 1 day to lug the major gear around), and I was very satisfied. It has a sturdy feel to it, a large and high quality screen, and very convenient adjustment methods and customizations. It also has some fun built-in modes for tilt-shift photography and video (time lapse style) as well as HDR and some other fun stuff.

In London, I used it primarily for shooting inside museums and on the street. The image quality is great if you can keep the ISO below 800, and is perfectly acceptable when going reasonably above that.

There is only one major nuisance with the S95 which is that it does not autofocus nor can it optically zoom when shooting video. In particular it locks focus when you begin recording and does not refocus.

Overall it is a fun camera and a big step up from a cheap P&S, but remember that it obviously does not come close to a good DSLR setup for photos nor a solid HD camcorder for video (we use a Sony CX550V).