I've been on a quest to find a digital camera that is smaller and lighter than a DSLR but still allows one to make pictures of similar quality.

I think I've got my choices narrowed to the Nikon P7000 and the Canon G12. I'd appreciate any comments from current owners or camera experts.

Thanks very much.

Take a look at the Olympus EP2 or EPL1 or the Sony Nex 3 or Nex 5.

Much bigger sensors and capabilities in a small package and closer to DSLR as compared to the 2 you have mentioned.

http://www.dpreview.com

Best regards,
Allan A
http://www.truedino.com

Image quality has much to do with the size of the sensor, and both of those cameras from the OP have 1/1.7" size sensors which are still point and shoots and not near DSLR size.
http://en.wikipedia.org/wiki/File:SensorSizes.svg

You might want to look into micro-four-thirds cameras because they are still large sensors and have a developing interchangeable lens system. Here's an interesting "TR" with one:
http://craigmod.com/journal/gf1-fieldtest/

The NEX-5 with a kit lense is still large, but better than a full-size SLR for sure. Micro SLR's are starting to pick up so we'll will see some more models pop up in the next couple years.

Here's a comparative review of the Nikon P7000 and Cannon G12, along with the Panasonic LX-5 by Thom Hogan.

http://bythom.com/compactHQ1.htm

Panasonic LX-5 or Canon S90 / S95 would seem to be a better set to look at based on the OP's reason for going this route vs. DSLR (and that's coming from someone with four Canon G cameras - G7/9/10/12)

I normally shoot with a DSLR (D300), and while I love it, it's a pain to always lug the beast along. I went looking for a nice portable camera to change this. Personally, I went with the LX-3 (the 5 wasn't out at that time). I looked at the S90 (95 wasn't out) in person, and found it very nice, but too small for my hand size. I really thought I'd drop it and lose it forever pretty easily. There's a custom handgrip you can get that helps this a bit, though.
The LX5 is wider (4mm doesn't seem like much but it really is, especially for landscapes), has a bigger aperture and shorter minimum focus distance than the S95. For those reasons alone, I'd go with the LX5. The aperture is a big one, as it makes it so you don't even need to get into as high sensitivity settings that plague P&S's with noise. It also has a longer minimum shutter and faster maximum shutter speed, and shoots at twice the frames per second with a stronger flash. It's for these same reasons that I went with the LX3, and I haven't been disappointed at all.
The NEX is an interesting option, but is being debuted with stupid lens choices that severely limit its practicality for somebody who is looking for a camera ready to go for lots of things right now. Currently, there is only the 16mm 2.8 pancake and the 18-55, which is pretty limiting for the camera. You can get adapters to fit other lenses, but then, that's more cost and another thing to bring along. There's also the Sigma DP2, which, like the DP1, sounds incredible on paper but most people find infuriating in practice.

As far as the p7000 and G12, the question is do you really want the added weight for limited added functionality? It's really easy to get caught up thinking you'll use the added tele reach, but in actuality, it's very rarely used, and a larger zoom range will always lower optical quality, and typically lower the speed of the lens. One thing that these two have that is rare and very nice, though, is an optical viewfinder.
A useful review of the LX5, P7000, and S95 side by side can be found here http://www.dpreview.com/reviews/q42010highendcompactgroup/

The Thom Hogan review posted earlier is also a very good portrayal of the cameras. The fact is that today, most of the differences between higher end cameras is down to preferences in ergonomics and give-and-take-features.

Definetely G serie is my choice

adventurer wrote:I've been on a quest to find a digital camera that is smaller and lighter

The S90/S95 use the same sensor and lens as the G12.....but are smaller and lighter

hatidua wrote: The S90/S95 use the same sensor and lens as the G12.....but are smaller and lighter

Photograph at arm's length, especially in bright sunlight, is perhaps one of the most ridiculous things ever invented. A camera without viewfinder is like a steak without a glass of wine. But everyone do what he wants with his money.

Like you I was in the market for a nice point and shoot, I pored over the stats, and compared all the best for a year, or more, and went with the canon S90. Much smaller than the G12, with all the features. I have ended up taking more quality photos, with the S90, than with my DSLR, only because the S90 is always there ready to shoot in the mountains.

Good luck

Hey guys,

Many thanks for all the info, advice, and recommendations. I've been a photography buff for nearly forty years but since the world gave up on film cameras, I've been a little like a fish out of water. I have an old Leicaflex SL and a Pentax Spotmatic. Now they just occupy shelf space but they were great cameras in their day.

While I hate to admit it, like macintosh said, I just can't live without a viewfinder!! I think I'll give the G12 a try.