Olympus FE-46 around, even if I am carrying my Canon camera around. Especially when I have the 100-400 mm zoom on the Canon, having the small camera as a wide-angle backup is very nice. This particular camera has the capability of adjusting the exposure of the image, which is what I had to do to get the image to the right. I knocked the exposure down by 1.3 stops so that the sky had some color in it.
I also ran across a book which sounds interesting, Confessions of a Compact Camera Shooter.In it, Rick Sammon talks about using a compact camera to get interesting shots. If you have followed Dewitt Jones in Outdoor Photographer, he has also been playing around with these small cameras as well. At least I think it was him, I'm going on memory now.
I highly recommend that you pick up one of these little cameras, try to get one that will allow exposure adjustment, it helps a lot in getting good shots. They're light, and very versatile when those shots crop up. And the required tripod can be very light.