There is such a camera........but:
The Sony W1 and P100 fit your description.
But, you should be aware of some idiosyncrasies that keeps me from recommending the camera.
It is supposed to be a point-and-shoot camera with a lot of the features of a camera with manual overrides.
It does not live up to the point-and-shoot part.
To get consistantly good photos you must use some of the manual overrides.
If you want the details, you can visit a thread on a Sony Forum:
There is another camera that looks promising, but it depends upon what you call pocket size.
If 3.9 x 2.7 x 1.6 inches is pocket size in your opioion, take a look at the Kodak DX7440.
A review can be found here:
I have been on a search for some time to find a digital camera with very short shutter lag, very good photo quality in a compact size that will (perhaps) fit in a pocket. I am willing to pay up to $500 or so. Any thoughts on where to look? Or should I wait some time for next generation cameras to come out?
Thanks in advance. . .