Keith
The best camera is one that still works!
I never had a P&S before I got a Ricoh R1. They have a 30/3.5 lens that started my addiction. Moved over to a Bessa T after the R1 tested gravity on a hardwood floor from the top of a TV six feet up. I also was not overly happy with auto everything. The R1 didn't have any of the controls you have on the GR-1v. I do not think you will find another P&S with the qualities (e.g. handling, sharpness) of the Ricoh. It's one of the reasons I am so in love with the GRD III.
B2 (;->
I can definitely see the attraction of the GRD III after sampling the GR1v's capabilities.
The fastish lens must be nice!