New Canon SD780 IS is a step above the entry-level Elph
The Canon SD780 IS follows up on the SD770 IS by "growing" the sensor to 12-megapixels (still at 1/2.3" of course), jumping to DiGiC IV, and upgrading the movie mode to high-definition (720p). It will be available in "festive red" (our name, not Canon's), silver, black and gold.
The other features are as expected, continued from the SD770is, such as a 3x optical zoom lens with stabilization (33-100mm eq), 2.5" LCD, face recognition, etc, etc, etc. The European name for this camera is "Ixus 100 IS".
It is expected to hit the shelves in mid-March starting at $280.