The new Sigma DP-1 for professionals looks pretty interesting. It's the second point and shoot to use the Foveon sensor. Assuming improvements, this would seem to deliver some awesome looking pics?
http://www.leica-camera-user.com/digital-forum/6034-sigma-dp1.html
www.dpreview.com
http://www.leica-camera-user.com/digital-forum/6034-sigma-dp1.html
www.dpreview.com