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Updating the camera models
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André Carregal
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For both cases I strongly recommend looking for something with

  • a fast lens (A 2.0 aperture is faster than 2.8 for example)
  • reasonable ISO handling (at least 400, but preferably 800)
  • the biggest sensor available

The sum of these factors are really critical for low light situations.

In 20112012, both the Canon S100S110 and the Lumix LX5LX7 offered that set of characteristics. If you don't mind a slight bulkier camera, you could also consider the Canon G12G15 due to its movable LCD.

And last but not least, if you can afford the extra cost, the Sony NEX (the NEX 5N for example) and the micro four thirds offers from Panasonic (GF3 and soonsuch as the GF5 and GX1) and Olympus (Esuch as the E-PL3PM2 and E-PL5) are certainly better than the previous options and offer the flexibility of interchangeable lenses. A middle ground, offering interchangeable lenses but a smaller sensor, would include the Pentax Q and the Nikon 1 cameras.

Note that these are current examples, but the market is always offering new cameras. The important thing to keep in mind is the sum of the above mentioned factors (fast lens, ISO handling and sensor size).

For both cases I strongly recommend looking for something with

  • a fast lens (A 2.0 aperture is faster than 2.8 for example)
  • reasonable ISO handling (at least 400, but preferably 800)
  • the biggest sensor available

The sum of these factors are really critical for low light situations.

In 2011, both the Canon S100 and the Lumix LX5 offered that set of characteristics. If you don't mind a slight bulkier camera, you could also consider the Canon G12 due to its movable LCD.

And last but not least, if you can afford the extra cost, the Sony NEX and the micro four thirds offers from Panasonic (GF3 and soon the GX1) and Olympus (E-PL3) are certainly better than the previous options and offer the flexibility of interchangeable lenses. A middle ground, offering interchangeable lenses but a smaller sensor, would include the Pentax Q.

Note that these are current examples, but the market is always offering new cameras. The important thing to keep in mind is the sum of the above mentioned factors (fast lens, ISO handling and sensor size).

For both cases I strongly recommend looking for something with

  • a fast lens (A 2.0 aperture is faster than 2.8 for example)
  • reasonable ISO handling (at least 400, but preferably 800)
  • the biggest sensor available

The sum of these factors are really critical for low light situations.

In 2012, both the Canon S110 and the Lumix LX7 offered that set of characteristics. If you don't mind a slight bulkier camera, you could also consider the Canon G15 due to its movable LCD.

And last but not least, if you can afford the extra cost, the Sony NEX (the NEX 5N for example) and the micro four thirds offers from Panasonic (such as the GF5 and GX1) and Olympus (such as the E-PM2 and E-PL5) are certainly better than the previous options and offer the flexibility of interchangeable lenses. A middle ground, offering interchangeable lenses but a smaller sensor, would include the Pentax Q and the Nikon 1 cameras.

Note that these are current examples, but the market is always offering new cameras. The important thing to keep in mind is the sum of the above mentioned factors (fast lens, ISO handling and sensor size).

Letting it more clear that the 2.0 refers to aperture
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André Carregal
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For both cases I strongly recommend looking for something with

  • a fast lens (2A 2.0 aperture is faster than 2.8 for example)
  • reasonable ISO handling (at least 400, but preferably 800)
  • the biggest sensor available

The sum of these factors are really critical for low light situations.

In 2011, both the Canon S100 and the Lumix LX5 offered that set of characteristics. If you don't mind a slight bulkier camera, you could also consider the Canon G12 due to its movable LCD.

And last but not least, if you can afford the extra cost, the Sony NEX and the micro four thirds offers from Panasonic (GF3 and soon the GX1) and Olympus (E-PL3) are certainly better than the previous options and offer the flexibility of interchangeable lenses. A middle ground, offering interchangeable lenses but a smaller sensor, would include the Pentax Q.

Note that these are current examples, but the market is always offering new cameras. The important thing to keep in mind is the sum of the above mentioned factors (fast lens, ISO handling and sensor size).

For both cases I strongly recommend looking for something with

  • a fast lens (2.0 is faster than 2.8 for example)
  • reasonable ISO handling (at least 400, but preferably 800)
  • the biggest sensor available

The sum of these factors are really critical for low light situations.

In 2011, both the Canon S100 and the Lumix LX5 offered that set of characteristics. If you don't mind a slight bulkier camera, you could also consider the Canon G12 due to its movable LCD.

And last but not least, if you can afford the extra cost, the Sony NEX and the micro four thirds offers from Panasonic (GF3 and soon the GX1) and Olympus (E-PL3) are certainly better than the previous options and offer the flexibility of interchangeable lenses. A middle ground, offering interchangeable lenses but a smaller sensor, would include the Pentax Q.

Note that these are current examples, but the market is always offering new cameras. The important thing to keep in mind is the sum of the above mentioned factors (fast lens, ISO handling and sensor size).

For both cases I strongly recommend looking for something with

  • a fast lens (A 2.0 aperture is faster than 2.8 for example)
  • reasonable ISO handling (at least 400, but preferably 800)
  • the biggest sensor available

The sum of these factors are really critical for low light situations.

In 2011, both the Canon S100 and the Lumix LX5 offered that set of characteristics. If you don't mind a slight bulkier camera, you could also consider the Canon G12 due to its movable LCD.

And last but not least, if you can afford the extra cost, the Sony NEX and the micro four thirds offers from Panasonic (GF3 and soon the GX1) and Olympus (E-PL3) are certainly better than the previous options and offer the flexibility of interchangeable lenses. A middle ground, offering interchangeable lenses but a smaller sensor, would include the Pentax Q.

Note that these are current examples, but the market is always offering new cameras. The important thing to keep in mind is the sum of the above mentioned factors (fast lens, ISO handling and sensor size).

Updating the camera examples to the ones available by Nov 2011
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André Carregal
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For both cases I strongly recommend looking for something with

  • a fast lens (2.0 is faster than 2.8 for example)
  • reasonable ISO handling (at least 400, but preferably 800)
  • the biggest sensor available

The sum of these factors are really critical for low light situations.

In 20102011, both the Canon S95S100 and the Lumix LX5 offered that set of characteristics. If you don't mind a slight bulkier camera, you could also consider the Canon G12 due to its movable LCD.

And last but not least, if you can afford the extra cost, the Sony NEX and the micro four thirds offers from Panasonic (GF1GF3 and soon the GX1) and Olympus (E-PL1PL3) are certainly better than the previous options and offer the flexibility of interchangeable lenses. A middle ground, offering interchangeable lenses but a smaller sensor, would include the Pentax Q.

Note that these are current examples, but the market is always offering new cameras. The important thing to keep in mind is the sum of the above mentioned factors (fast lens, ISO handling and sensor size).

For both cases I strongly recommend looking for something with

  • a fast lens (2.0 is faster than 2.8 for example)
  • reasonable ISO handling (at least 400, but preferably 800)
  • the biggest sensor available

The sum of these factors are really critical for low light situations.

In 2010, both the Canon S95 and the Lumix LX5 offered that set of characteristics. If you don't mind a slight bulkier camera, you could also consider the Canon G12 due to its movable LCD.

And last but not least, if you can afford the extra cost, the Sony NEX and the micro four thirds offers from Panasonic (GF1) and Olympus (E-PL1) are certainly better than the previous options.

Note that these are current examples, but the market is always offering new cameras. The important thing to keep in mind is the sum of the above mentioned factors (fast lens, ISO handling and sensor size).

For both cases I strongly recommend looking for something with

  • a fast lens (2.0 is faster than 2.8 for example)
  • reasonable ISO handling (at least 400, but preferably 800)
  • the biggest sensor available

The sum of these factors are really critical for low light situations.

In 2011, both the Canon S100 and the Lumix LX5 offered that set of characteristics. If you don't mind a slight bulkier camera, you could also consider the Canon G12 due to its movable LCD.

And last but not least, if you can afford the extra cost, the Sony NEX and the micro four thirds offers from Panasonic (GF3 and soon the GX1) and Olympus (E-PL3) are certainly better than the previous options and offer the flexibility of interchangeable lenses. A middle ground, offering interchangeable lenses but a smaller sensor, would include the Pentax Q.

Note that these are current examples, but the market is always offering new cameras. The important thing to keep in mind is the sum of the above mentioned factors (fast lens, ISO handling and sensor size).

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mattdm
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Updating the reference to camera models
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André Carregal
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Lens speed example
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André Carregal
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added 10 characters in body
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Jeff Atwood
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Rewriting the answer to make it clear that camera options are constantly changing
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André Carregal
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André Carregal
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