Fujifilm X100

Available in the spring, this looks like a very nice camera for the enthusiast. I've mentioned it before, but the price worries me, as at £700 (estimated), I think it's too steep. I'd probably suggest a budget digital SLR with a compact prime lens like the Nikon 35mm AF-S G DX f/1.8 would be a better and cheaper option.

In fact you could squeeze a budget DSLR, kit zoom lens and a digital compact out of that budget, if you really needed the portability.