The Canon S3IS will do as well as any other smaller camera for action shots in low light.
Which is not well.
Here is what the professionals use for that situation:
You need a camera with a large sensor and a bright lens.
Unfortunately, than means big bucks.
I have the Canon S3IS and I love it. I am an assistant coach for the high school spirit squad and need to take a lot of action shots...alot of which are outside at night at football games or inside in the gym with bad lighting. I use the sports setting set at the multi shot setting to take constant pictures to get the girls in the air etc... but the pictures end up grainy. which is fine for 4x6 but if I end up getting that perfect shot, I would love to be able to blow it up and when I do, they are grainy. Please give me some recommendations that I could use to find the perfect camera. By the way, I am not a pro, but I like to pretend I am..ha ha... I LOVE taking pictures of everything and do take pictures of everything. So it has to be a multi purpose camera for a reasonable price...Thank you !!