I think some of the cheep P&S POSes are worth buying. #1 you can call it disposable, and if you ruin, wreck, or loose it, it's way cheeper than a new phone. At least my phone.... #2 they are capable of taking better pictures than a cell phone. Not a lot, but kind of. #3 if you care about pulling it out and being ready to shoot, most are faster than your cell phone. I also see the value, or maybe not value but beauty and charm, of something like the Leica M9. Maybe if I had a large bankroll and wanted to focus on street photography, especially of strangers, it would be worth saving for. But I am really happy carrying around my big old DSLR and a huge lens. I take pics of people I know, so I don't mind being a bit more conspicuous.