If you have been waiting for the newest Superzoom Canon S-series camera, wait no longer!
The SX10 IS has just been released (October 2008) at an MSRP of $399.99, and replaces the discontinued S5 IS (as well as S3, S2, S1 IS).  The new specs are:

10.0MP (up from 8.0MP)
20x optical zoom (up from 12x)
Digic IV (replaces Digic III) with face detection and contrast optimization
Movies now in .MOV format (40% smaller file size than Motion JPEG, still only 640p, no widescreen)
Better battery life (600 shots on 4x NiMH batteries vs 450)
4.1 ounces heavier

Unfortunately, the lens adapters (for wide-angle and telephoto) will be incompatible with the SX10.  The focal length is from 28mm to 560mm, which is better than what you would get on the S5 with the adapters anyway.  The two main advantages are the 20x zoom, which now re-establishes Canon as one of the top players, a 10MP CCD sensor, and Digic IV.  Otherwise, it's a very similar camera, with a $100 cheaper MSRP than the S5 IS had at release.

If you want the ultimate Canon non-DSLR, try to get your hands on a SX1 IS, which is the same as the SX10, but with a 10MP CMOS sensor, and 1080p HD video recording (also supports wide-angle and telephoto lens add-ons).  I would buy one if it becomes available here in the US and was reasonably priced.

By the way, Microsoft is currently offering up to 30% cash back on Buy-it-Now purchases with PayPal through their "Live Search" promotion, so you could get an SX10 for $400 - $120 cash back (60 day waiting period) = $280
I don't know when this offer will expire, but get it while you can!

Official USA website
http://www.usa.canon.com/consumer/controller?act=ModelInfoAct&fcategoryid=144&modelid=17630