I strongly echo the suggestions of looking at it from a two-camera (at least...hehe) perspective. Although I would say that some of the newest pocket rockets could probably serve well as a single all-purpose camera, especially if you aren't gonna spend the time to learn the ins-and-outs of photography and put a DSLR throught its paces.
I have a Canon 20D which is great for railfanning and stationary family gatherings, but really not practical to carry around for snapshots. The thing was made for railfanning though....8MP at 5fps until you fill up the card.
I have a Sony HDR-CX12 HD Camcorder, which takes pretty good stills but still doesn't really fit well in a pocket.
I have my iPhone 3GS, which finally takes decent stills compared to the original iPhone, but no flash. I have used it to take modeling pics and it is surprisingly good as long as you can control the lighting.
So all this and I still don't have a good "keep in my pocket" snapshot killer. I'm now waiting for the next iPhone which is rumored to have 5MP and a flash, but I'm not holding my breath. I broke down before Christmas and bought a cheap Sony pocket P&S and thought my problems were solved....until someone shattered my car window and dented my door ($400 damage) just to steal a $60 digital camera. If the iPhone doesn't come through, I have my eye on the newest Sony (HX5 I think?) that uses the same memory cards as my CX12 and except for extreme situations could be a "one carry" solution. (well, plus my phone)
