I’ve been waiting for this to happen for a long time now. And as of yesterday, Canon now has a few cameras in its compact digital line that shoot full 1080p HD video. Those cameras are the PowerShot ELPH 100 HS, the PowerShot ELPH 300 HS, the PowerShot ELPH 500 HS, and the PowerShot SX230 HS.
The HD video won’t live up to DSLR-quality HD video, but at least I won’t have to watch videos that are 640×480 from my old-ass compact digital. Might pick up a ELPH 500 HS ASAP.