I have had the Fuji S100fs camera for almost a month now, and have quite a bit to say about it's performance. First, I am very impressed with the image quality in general and the low noise images produced by this camera. Pictures up to 400 ISO are almost noise free, while 800's show very little noise and still show great detail. 1600's are not too bad either, but you probably would not want to print too big, as there is some noise there - however, compared to pretty much every other point and shoot out there, noise levels are quite satisfactory. I was able to get some great shots at my daughters' dance recital last week. Using 800 ISO for the slower ballet & pointe, and 1600 for the faster action, like clogging & hip-hop, I captured some very nice images with little or no motion blur. A few were out of focus: I noticed that when tracking moving objects the focus had a little trouble locking on some of the time. Overall, pretty pleased though.
Next, the Dynamic Range expansion feature on this camera really works. Some shots that would have been too contrasty at standard DR turned out extremely nice - almost never have a blown highlight and shadowy areas are lit enough to show detail that would be lost otherwise. Great feature!
Another feature of the S100fs is the film simulation mode. I do like the "Velvia" setting, but it cannot be used at the same time as DR expansion mode (the camera switches DR off when Velvia is selected). There is a way around this, however, by setting color to "high" and tone to "hard" in the main menu (this is what Velvia setting does to the camera anyway). By doing this, you get more vivid color and tone and still be able to shoot with expanded DR. Very glad I experimented with the available settings to discover this.
This camera has a lot of adjustment buttons and many choices in the menus. The menus are easy to use and the many features accessed there are pretty useful. Many DSLR-like controls here allow quite a bit of experimentation and adjustment, making this camera work better for the more experienced photographer, and allowing trial and error for the less experienced to get better at what they are able to capture. If you want to let the camera do most of the work, it will, and do it pretty well. I still recommend using the camera at least on P mode for best results.
Now for the bad news: Purple fringing and other chromatic abberation is there. To be honest, out of 950+ shots, I have only had a REAL problem with about 7 or 8, but it is there on very high contrast shots, especially at wide angle & a little less at full telephoto). Most of what I shoot will never really show this flaw, but once in a while, it will be there. ALWAYS use DR400% on shots like that and, in some cases, it may help lessen visible CA.
Now for the pros / cons list:
Pros: Image quality overall is very impressive - not quite DSLR quality, but most shots are very close, rivaling those of the cheaper DSLR's.
Visible noise is much lower than pretty much any point-and-shoot made today: larger image sensor, and the fact that a Fuji Super CCD is used, are predominantly the reasons here. Again, not quite as clean as a DSLR can produce, but not that far off.
Very convenient: 28mm wide angle & 14.3x zoom lens on the camera, no dust issues, no lens changing & packing around. There are some of us that just do not want those things no matter how good the photo is (I'm not doing this for a living, just want decent everyday shots and still be able to produce pretty professional looking photos once in a while - this camera allows me to do that).
There are other pros, but I've covered the main ones. Here are the con's:
Purple fringing is definately this camera's weak spot. Fuji could have done better in this department. The S100fs would be invincible (as a point & shoot anyway) if not for this. Like I said before, most of what I do is not affected by this, but it would be nice not to see it crop up EVER. If you do alot of outside picture taking (especially shooting through trees or at buildings in front of a bright sky or other bright & contrasty pictures) you might not be happy with the results unless you are good with PF removal software and have the time to use it.
Manual focus is pretty worthless on the S100fs. It is electronic rather than a true mechanical focus mechanism. It is unresponsive, as it does not really matter whether you turn the ring quickly or slowly - it just adjusts in slow increments either way. Since you can't quickly focus in & out, it's hard to tell if you're right on or just close (and close is not good enough). Not very useful. Fortunately, the auto focus works well nearly all of the time. Low light/contrast and moving subjects do pose some problem, but most point and shoot cameras suffer a little in this area.
Software included with the camera, particularly the RAW processing software, is not that great. DPreview said it was slow: I don't find it to be that bad speed wise, it just does not allow me to adjust the things I really want to, like noise reduction (software just applies the same NR that the camera does to jpeg's). White balance, color, etc. can be changed with many other programs, so I do not find the software very useful. S7raw for RAW conversion and Neat Image for NR application does a much better job, it just takes extra steps that I wish I didn't need to take.
Overall, I have to say that Fuji has built a fine camera in most respects. I am really enjoying all of the many features available, and, more importantly, the great images I am able to capture with this very capable and convenient camera. If not for the PF/CA issues, I would give 5 stars, but due to that, I cannot do so. I think most people wanting good performance (better than that available from the tons of point and shoot cameras out there) without the hassles, drawbacks and expense of a DSLR, would love this camera. I have read many personal opinions of actual users of the S100fs, and I agree with the majority of positive comments offered about it. It really does a lot of things very well, and I do not regret buying it at all. For what I want in a camera, it suits me very well.
UPDATE 9/9/08: I have now used my camera extensively for 4 months now. Still enjoying the good results I'm getting. I have changed some settings as I have now had time to really experiment more with different images. First, I have changed the tone setting from "hard" to "standard", as I have noticed that highlights are generally retained better when set this way. The camera does not bump the contrast as much. "Soft" tone will result in even more highlight retention, but the image looks too flat for my taste. The other change is with the dynamic range setting - 200% is now my setting of choice. I have inspected many of the 400% and 200% images, and my opinion is that I prefer the cleaner image with a little less highlight detail over the noisier one with better highlights (don't get me wrong, though, ISO 400 is not bad). ISO 200 is just noticeably cleaner and the highlights are still much improved over ISO 100. Another change in my routine is the use of Photoshop Lightroom 2 to process images. This is a GREAT program - saturation, clarity, vibrance, contrast, highlight recovery, tone (broken down into highlghts, lights, darks & shadows which you can boost or cut individually), noise reduction, lens corrections and fringe removal, etc, etc. etc! Yes! I have improved CA and removed purple fringing from my worst shots with great results. Definately something to consider for making the most of your S100fs images. I have left friends and family in awe of some of my processed shots.
I hope this review is not too long now, but I felt I should add some experiences & preferences that have evolved from my continued use of this camera. Hope it helps!