Editors' note: This story was originally published on November 21, 2011, but is updated frequently to reflect more recent reviews and announcements. The latest update adds the Panasonic Lumix ZS100.

It's a common complaint: You want the photo quality of a dSLR but find you're leaving the camera at home because it's so large.

A lot of the compromises you previously had to make are moot now. These models come with sensors the size of a high-end dSLR's and performance that can rival a midrange dSLR and offer the same level of manual control over shutter speed, aperture, support for raw files and other creative features.

These dSLR complements (or replacements) come in two versions: ones with the traditional larger-than-average point-and-shoot design, and the interchangeable-lens models (ILC), which attain a more-svelte-than-dSLR profile by jettisoning the mirror-and-prism optical path, which is one factor that keeps dSLRs so large. Of course, once you start adding on to the latter models, like tacking on an EVF and even a modest zoom lens, they start to get pretty big. Still, equipped with a kit pancake prime lens like the 17mm (Olympus) or 14mm (Panasonic), they remain quite pocketable. But they also tend to be quite expensive compared with all-in-one models.

On the other hand, fixed-lens models can have better lenses than those that come in the inexpensive dSLR and ILC kits. Kit lenses generally come in 18-55mm, 16-50mm or 14-42mm flavors, depending upon the sensor size, but they almost universally have maximum aperture ranges of f3.5 to f5.6. Many of these models have relatively short zoom ranges, but maximum apertures of f2.8 or better.

However, despite some excellent electronic viewfinders (EVF), you still sacrifice the improved shooting experience delivered by a through-the-lens optical viewfinder. And battery life in the compacts (or in an ILC, for that matter) can't match that of a dSLR. The small batteries in a compact are no match for the power drain of those always-on back displays and viewfinders.

Still to come: the Sony RX1R II; Canon PowerShot G7X II and G9 X; Sigma dp1, dp2 and dp2 Quattro; Nikon DL24-85 and DL18-50; Fujifilm X30 and X100T and the Leica X-U and X Vario.

Here's my take on how the fixed-lens models stack up.

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Sensor sizes

Beyond the advanced controls you get with these cameras, their most defining aspect is sensor size. Once upon a time, a 1/1.7-inch sensor was considered the must-have in this category. Now, you can get them as large as full-frame.

Why does it matter? The bigger the sensor, the better the ability to control how much the background blurs, and generally the better the photo quality. The trade-off is that as sensor size grows so does camera size, and in fact a lot of the APS-C and full-frame sensor versions of the cameras can only loosely be termed "compact;" they're more accurately described as "fixed lens."

For a while it looked like the affordable APS-C compacts had stagnated -- the Ricoh GR II and Fujifilm X100T aren't old, but they're still based on the technology in their predecessors from 2013, and NIkon discontinued the Coolpix A. But Fujifilm came back with a new model, the X70, which has a friendlier $700 (£550, AU$1,050) price than the still-more-than-$1,000 (£700, AU$1,400) X100T. Plus Leica expanded its X series to include its first submersible model, the X-U, albeit at a budget-bedeviling $2,950/£2,400.

It's not the first aggressive move from Panasonic, either. The company jumped straight from its 1/1.7-inch LX7 to Four Thirds with the LX100, then subsequently backtracked to 1-inch in the Lumix ZS100, which now boasts the longest zoom available in this class. While the Canon PowerShot G1 X and G1 X Mark II have a larger 1.5-inch sensor, it's only marginally larger; in comparison, the Four Thirds-size sensor is significantly larger than the increasingly popular 1-inch sensors in models like the Sony RX100 series and the Canon PowerShot G7 X Mark II and G5 X in a bodies frequently smaller, yet as full-featured, than the larger-sensored Canons.

Many of these cameras use BSI (backside illuminated) CMOS sensors, a manufacturing change over standard CMOS imagers which moved the light-sensitive areas (photodiodes) to the top layer of the chip. That move expanded the sensitivity in low light, but initially the quality in bright light wasn't great; they're much better now. The other advantage BSI sensors confer is speed: you can thank it for the onslaught of multishot special effects (like HDR) and high-speed continuous shooting modes.

Sony recently upped the BSI stakes with its stacked CMOS (branded Exmor RS), a variation which relocated the circuitry off the photodiode layer. Its Exmor RS also has extra on-chip memory and faster circuits, which allows its RX100 IV and RX10 II cameras to do extremely high frame-rate capture (like 960fps for slow motion), 16/14fps continuous-shooting and 4K video.

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Best price: Fujifilm XQ2

The Fujifilm XQ2, with its 2/3-inch sensor, costs less than $300 (£250, AU$450) and displaces the Sony RX100 as the cheapest recommendable model. It's more of a high-quality step-up from a phone camera than a serious advanced compact, but that's what many people who buy advanced compacts are really looking for: a camera with a bigger sensor for better low-light photos.

The RX100 remains a solid and relatively inexpensive choice for the entry-level buyer on a budget. Prices in the US seem to be all over the place, from a few at $300 to a whopping $600, though it's still available for about £250 in the UK and between AU$400 and AU$500 in Australia. If you can find the better RX100 II at comparable prices, that's a better option (they vary enough globally that you may be able to find it for less). The RX100 isn't nearly as good as more recent cameras, and they both have the old, slowish lens, but they're also not nearly as expensive as the better models and still a great step up from a typical point-and-shoot.

Canon's G9 X is intended to compete in this market, and since it has the same imaging specs as the G7 X (but a "meh" lens) it will probably deliver good image quality for this class. But at around $430 (£350, AU$550) it's still on the expensive side.

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Best general-purpose under $1,000: Panasonic Lumix DMC-LX100

Panasonic upset Sony's RX100 III with a camera that outclasses its predecessors for best overall model. The LX100 is speedy and compact with a fast lens and excellent and video photo quality. However, it's expensive with prices hovering around $700 (£450, AU$900), so it's not necessarily the right pick for everyone. The RX100 III ($700, £500, AU$900) is still a great choice. The RX100 II may be a better value, especially if you don't care about the tilting LCD; though prices for it are all over the place, some higher and some lower, so you have to comparison shop. The RX100 IV -- more expensive at $900 (as low as £600, AU$1,250) -- isn't quite as good for still photo quality, but offers a lot more video controls if that's your thing.

The $650 Canon G7 X (approximately £350, AU$800) has the best combination of photo quality and price in the 1-inch sensor class, but it's slow and its connectivity isn't particularly well implemented. Canon recently announced the update to that camera, the G7 X Mark II, at close to the same price: $700, £475, AU$900. I haven't yet tested it, but the updates do address some of my pain points with the older model.

The more recent G5 X $750 (£580, AU$1,000) is basically the original G7 X, but with a very nice viewfinder and fully articulated touchscreen display. However, though it's not as slow as the G7 X it has some sluggish aspects, and it lacks the more fully developed feature set of the LX100.

After a long hiatus in the enthusiast compact segment, Nikon blasts back with the DL series, the DL24-85 and DL18-50. The two compacts are almost identical with only a few exceptions -- most notably the lens, as indicated by the product names. The DL24-85 is the more mainstream-targeted of the two; it has a longer 2.6x zoom, a built-in flash, and at $650 (£550, AU$900) costs less than the shorter-zoom DL18-50 ($850, £680, AU$1,100).

For everyday photography, the two cameras stand out for their fast continuous shooting rated at up to 20 frames per second with autofocus and autoexposure. The 24-85mm focal-length range is a solid choice for most travel, landscape, street and portrait photography, though the longer 10x zoom range of the Panasonic ZS100 might turn out to be more attractive for a lot of people than the Nikon's 3.6x zoom.

The DL18-50 stands out from the rest of this class with the widest-angle lens available in a compact, which makes it more suitable for architectural photography than most consumer compacts. And 18-50mm is a great focal range for street photography, environmental portraits and landscapes.

Furthermore, with its built-in EVF, the LX100 also reigns as the best model with a viewfinder -- at least until I get a chance to test the Sony RX1R II or Fujifilm X100T (though the Sony won't cost less than $1,000 for years, if ever). I think EVFs work better in this class of camera than the small, hard-to-use optical viewfinders of yore. The Canon G5 X has one of the best viewfinders in its competitive cohort, but that doesn't quite compensate for its drawbacks.

Canon dropped the optical viewfinder for the Mark II, replacing it with an expensive optional EVF. The RX100 III/IV also incorporate an electronic viewfinder.

For optical viewfinders, the Fujifilm FinePix X20 is the fastest performer of the group -- the company went to an EVF for the X30 -- and is capable of producing nice, though not best-in-class images. Canon has two models in this class, the older Canon PowerShot G1 X and the PowerShot G16. While the original G1 X has arguably the best photo quality of this subgroup, it's also slow and expensive, and the lens aperture narrows so fast as you zoom out that it can be frustrating to use.

The G16, on the other hand, has a great, fast lens and improved (but still not great) performance, but it lacks the articulated display of the other Canon models, and its photo quality isn't significantly better than its last couple of predecessors.

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Longest zoom: Panasonic ZS100 (TZ110, TZ100)

While the company classifies it as one of its "travel zooms" rather than an enthusiast compact, the ZS100 ($700; TZ110, AU$1,000; TZ100 £550) it has all the manual controls you want, a viewfinder and a 1-inch sensor -- plus a 10x zoom lens, 25-250mm. Unfortunately, at f2.8-5.9 the lens isn't as fast as most of the cameras here, but a lot of people will find that's a tradeoff they're willing to make.

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Best photo quality under $1,000: Fujifilm X70

Technically, I should really say the best photo quality under $1,000 goes to Fujifilm rather than a particular camera. The X70 uses the same APS-C size sensor as the 3-year-old X100S and their prices are roughly the same. The X70 ($700, £550, AU$1,050) is a little more mainstream, though; it's a lot smaller, with a tilting and flip-up display.

The X100S ($650), on the other hand, has a nice hybrid optical/electronic viewfinder, and a narrower-angle lens: 35mm vs. the 28mm on the X70. But it looks like the X100S has been discontinued by the company, and it's hard to find in Australia and the UK, so for those niceties you'd have to shell out about $1,300 (£675, AU$1,600) for the 2014-era X100T.

The Ricoh GR II ($600, £600, AU$900) which has a relatively narrow feature set is another current option more current and produces images with almost as good quality for a tighter budget.

Note that the tradeoff you pay for the image-quality afforded by the larger sensor is zoom: all these cameras have fixed-focal-length lenses. For a similar model with a zoom, you'd have to expand your budget to about $1,900 (£1,300, AU$2,000) for the Leica X Vario.

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Best for video: Sony Cyber-shot DSC-RX100 IV

The lastest addition to the RX100 series incorporates a 1-inch sensor, but uses a new, faster readout technology that allows it to shoot 4K and high frame-rate video for slow motion. It also has a lot of features that serious users need, like timecode and Picture Profiles for different color spaces and gamma settings. However, at roughly $800-$950 (£600-£760, AU$1,250) it's on the expensive side for more casual users. The less expensive (and I think better designed) Panasonic LX100 ($700, £450, AU$900) comes in a close second for easy, high-quality 4K movies.

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Simply best: Leica Q

If money is no object, spring for the $4,250 Leica Q (£2,900, AU$5,700). Great photo and video quality, stellar lens, and an unusually modern feature set for a Leica, which includes decent autofocus.

Don't want to spend quite that much? The Sony RX1 delivers great photos and comes in at a less-gaspworthy $2,800 (£1,900, AU$3,500) but sacrifices amenities in the Leica, including a built-in viewfinder and decent autofocus. It has a sibling, the RX1R (around $2,800, £1,500, AU$3,500), which has the same full-frame sensor, but like the Leica Q has no optical low-pass filter, intended to produce sharper photos for folks who photograph highly detailed still subjects. Sony added a viewfinder, tilting display and updated autofocus with the more recent, OLPF-free RX1R II -- and it's still cheaper than the Leica at $3,300 (£2,200 and AU$5,500). It looks like it might be a formidable challenger.

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