If you can find a decent one the old Panasonic TZ5, TZ6 etc........... were great metal built cameras, I regretted when I sold my TZ5 and thought I was upgrading. I have had a few smallish cameras since, X20, XF1, TZ18, TZ35, HX20 etc...... and when I look back at some of the pictures taken with the compacts, the TZ5 just seems right, if that makes sense. I dont know if there is too much flex in these newer longer zooms on the modern ones??
My wife has the XF1, which is a great camera but with limited zoom and I purchased a TZ35 from Argos before Christmas for £99.00. I returned it a few days later as the pictures were poor, I tried different settings and I couldn't get a decent pic out of it. Probably a faulty camera or me!. I'm in the market for a pocket camera and I think I will keep an eye out for a older mint TZ5 or similar.