DPReview has come out with their in-depth review on Canon’s new Powershot S3 IS camera. Successor to the Canon Powershot S2 IS, the new gunmetal black S3 IS is surprisingly just a mere minor upgrade.

Some of the new features include:

• ISO 80 - 800 (S2 IS: 50 - 400)
• 6-megapixels (S2 IS: 5-megapixels)
• 2.0-inch LCD display (S2 IS: 1.8-inch)
• New Sports mode
• Live histogram while framing
• Widescreen shooting mode

Why the new features are no big deal:

• ISO 800 is too noisy to be practically useful.
• 1-megapixel difference is nothing to call home about.
• LCD got larger but pixel count remains the same.
• Although the Sports mode can be handy, most people using this prosumer camera would probably use the P/A/S/M modes most of the time.
• Histogram is not accurate in every occasion. Individual RGB channels can get blown out while the histogram looks alright.
• Widescreen shooting works only for still and not the video mode

Therefore I would say the only real reason for any current S2 IS owners to upgrade, is for the cool gunmetal black.

Nonetheless, if you are seeking for a new camera that gives you lots of controls but without the bulk of a SLR, the S3 IS is a great choice. Indeed, it is one of the hottest camera right now if you’ve been following photography forums.

I used to own a S2 IS, and other than the typical limitations of non-SLR cameras, my only complaint is the lack of a hotshoe for an external flash. And unfortunately, a hotshoe is still being left out of S3 IS. It seems obvious that Canon has left it out of their S-line of cameras on purpose.

Here are some other reviews on this wonderful camera:
DCRP Review: Canon PowerShot S3 IS
LetsGoDigital Canon Powershot S3 IS Digital Camera Review

Available at $450 from Amazon.