DP Review posted some samples from a production canon G11, with a few high iso shots. The iso 1600 shots look usable, unlike the g10.
Even the 3200 shots aren't that scary.
From this initial look, it seems like it was a good decision to drop the res in favor of image quality.
I saw those samples, and I too, am impressed. there are some things you can't do with a big-honkin' DSLR. The little G11 looks like a REAL DSLR replacement in a small package. there will still be issues with responsiveness, and the resolution isn't that high, and it's focus control is still slowish, but for a pcket cam, that thing looks FANTASTIC. The S90 seems to match the quality in an even smaller size.
I think maybe my G9 is developing some dead pixels...actually, it really has started to show some problems at highish ISOs (800 or so). It puts a thin blue vertical line in the mid-right section of the image. Oh Darn! Now which one, G11 or S90? The G11 supports underwater enclosures and would be an excellent camera for diving and use around water.