The $199.95 Optio P70 isn't short on the point-and-shoot features I've come to expect from new models. You get your Smile Capture, your Blink Detection, and some manner of shake reduction (in this case, it's the company's new Pixel Track Shake Reduction, which promises "sharp images in challenging lighting conditions without adding ISO noise").
There's also face detection, and while that's not new, the P70 is apparently capable of hunting down up to 32 faces in as little as 0.03 second. And if you've never been good about switching to an appropriate scene mode, the P70 will pick out one of eight automatically. (That again is more than most auto-scene recognitions can choose from.)
As for the hardware: there's a 2.7-inch high-resolution, wide-angle LCD, a 4x 27.5- to 110mm-equivalent lens, and a 12-megapixel sensor. It'll capture HD video (720p) at up to 15 frames per second, too. The design is seemingly straightforward for an ultracompact, with the exception of the camera's Vertical Snap mode that changes up the operation of four-way controller and OK button for a shooting experience akin to a mobile phone.
Pentax also announced the Optio E70, a $139.95 10-megapixel ultracompact with a 3x zoom lens, a 2.4-inch LCD, and the same speedy and advanced face detection, Auto Picture mode (though it only chooses from seven shooting modes), and Pixel Track Shake Reduction technology found in the P70. Body colors include champagne gold, deep blue, and red.
Look for them both in February 2009.