The Hexar is as hard to define as the term "best". Many have tried, but their personal strings seem to be of different length if you'll pardon my obtuseness.
I have a few high end "point and shoot" compacts, and the Hex AF is neither compact or just a p & s.
For me it's as much about a particular mood and knowledge that the potential is there because of the excellent IQ and flexibility of these various cameras.
E.g.
favourites:
Hex AF - super quiet, great fast lens f2, overrides, thinking required for best results, but can be p&s
Nikon 35ti - funky-tech, easy, relatively compact, matrix metering, great lens, aperture priority,annoying flash cancel.
Ricoh GR1s - great wide lens f2.8 (my fav FOV), compact, aperture priority, filters, good flash cancel.
Oly XA - retro-funk, very good lens, very compact clamshell, aperture priority, quiet, design masterpiece.
Oly XA4 - very good wide lens, good close focus (.4m), zone focus, quiet.
Rollei 35s - lovely sonnar 2.8, funky-retro, solid heft, manual so thinking again
Ricoh GRD - most used these days - easy digital, wide (21mm) and standard (40mm) accessory lenses
More P&S style:
Yashica t4 - great T* zeiss lens, compact
Oly mju II great lens, tiny, weatherproof, clamshell, cheap take anywhere but top results
Fuji Tiarra - great 28mm fujinon super ebc, tiny jewel, annoying (cancelable)flash preference on mine.