I've had the 5060 for about 3 weeks now- its my second digital camera (started with Canon A10). I purchased the 5060 for wide angle shots and macro- something that may be of no use for portrait work. That said, the 5060 takes excellent photos and as a added bonus has one of the best movie modes (with sound) at 640x480. This could be very handy if you are taking shots of kids at play.
For a quick point and shoot it probably is a bit of overkill as you will be paying for many features that you may not use. If you want to spend the money then go for it, otherwise take a look at the Cannon A80 for good quality and ease of use.