I just bought the G11 a few days ago. There wasn't much competition out there except Canon's own S90 and Panasonic's LX3. I ruled out the LX3 first mainly because of it's limited zoom, 60mm is in the realm of "normal" length. Much to short for capturing the kids at play. I would have loved the 24mm end but, that is not as important to me. The S90 size was compelling though again the 100mm vs 140mm reach swayed me to the G11. Not only that but, the hotshoe for future use, the ISO and EV dials are priceless and finally the rotating LCD. My old Nikon CP5700 had one and I've missed it more than I thought.
I shoot RAW exclusively, just my preference of course. The G11 has it so why not squeeze all the detail you can out of it. Also, I'm not a rapid fire shooter so tweaking RAW files from the day won't take much time.
Here are some shots so far, more can be seen here; http://www.pbase.com/ajuett/g11
100 ISO - look out dSLRs
1600 ISO - no flash, a 60w light behind, 40w light to the left of my son.
80 ISO - tripod used and skylight used for lighting.