The latest successor to the S2 is the SX40 HS.
About the time the SX series started, two smaller versions also started SX100 and SX200.
Since you want better rapid shooting, you should be looking for a camera with CMOS sensors rather than CCD sensors.
And todays cameras that comes out to be SX230 HS and S40 HS.
The Canon S95 is almost what you want but not quite.
The newer S100 has CMOS sensors (the S95 has CCD).
The S95 and S100 have better low light performance than the average point and shoot cameras.
Not by a large percentage, but about 2 f-stops better.
But you can always use your old Canon AE-1 for those low light shots.
..
My pride and joy broke while on a trip to Joshua Tree last weekend. It's finicky, it's having the E19 error that everyone complains about with this model. I've wanted something new for awhile anyways since this is bulkier than I would like it to be. I'm on the go a lot and this is sometimes burdensome to bring around....however I love the pictures it takes. I would like something that is comparable yet smaller. I've come across the Canon PowerShot S95, but I am not sure that it's what I want.
<div>Features I am seeking:
1. Macro feature. Must have. I do a lot of close up shots of jewelry for my business.
2. Continuous rapid shot. I skydive and enjoy on the ground canopy (Parachute) photography. You get better shots with this feature.
3. I'd love something smaller.

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