Camera conundrum

I’ve been thinking lately about making some changes to my stable of photo equipment. Here’s what I’ve been mulling over:

• Sell the Canon Digital Rebel and accessories and buy an ultra-zoom point-and-shoot camera, specifically a Canon PowerShot S2 IS.
• Buy a new lens or two and an external flash for the Digital Rebel.
• Buy a tiny point-and-shoot like a Canon PowerShot SD 450 to replace my aging PowerShot G1 as my “go everywhere” camera. I would keep the G1 for hazardous duty.

Doing some combination of the second and third items is the most likely scenario. I like the specs of and wouldn’t hesitate to recommend the S2, but I think it would have some shortcomings in my work.

Of course, I may do nothing and just be suffering from what Dad would call “money burning a hole in my pocket.”