I carry a Leica X1.
Better quality than all but the best PRO DSLR. Small form factor, can carry a large sensor camera in a jacket pocket.
Only downside, its 35mm, no zoom. Which will put it out of the running for most, but i zoom with my feet.
I prefer the "street photography" feel anyway. Who wants to walk around looking like a tourist? Anyone curious about the specifics, let me know.