It’s always been my contention that the gear you have doesn’t matter, its what you can do with it that does. This article about an award winning professional photographer who uses so called point and shoot cameras for his pictures rather than a ‘big, fast, bulletproof pro SLR’ really makes the point.
I get a certain satisfaction out of his current choice of camera, the Olympus c-8080, the same camera that I have (though the results I get are not in the same league as this guy).