I have the older Canon G10 which is basically the same camera but heavier with 14 mp. I like the raw as it gives a richer color to photos. What you are paying for is raw output regardless of which camera you get. Some other people might be able to help you if they have one of the S series cameras. I thought about getting one since the G series are a lot heavier and not nearly as compact. Right now I use a Canon SX210 powershot camera. Does not have raw but is a highly regarded compact camera.
Autoreflex TC 35MM camera and various lenses though I rarely shoot fi...
The answer to you first question is YES. I have the S95 in it's quality is amazing and it's small size is even more amazing. I doubt that there is a big difference between the s120 and the s110 or even the s100. Probably just a few more pixels. Any one of these you can get a good deal for, just get it.
Various Nikon Lenses
I also have a powershot S95. I keep this camera on my belt all the time and have used it many times when the opportunity arises to get a photograph and I am not carrying my larger camera. I have many photographs that I have taken with it and have been accepted here on DT. I am very pleased with the quality.
IS, Cannon 70-200, Canon 100-400 IS. Giotto tripod....
My first camera was Canon Powershot A2200(approx. 100 dollars- i bought in 5300 Indian Ruppes), a very basic budget camera used by common people for selfie and personal use. Recently, i got my advanced P & S Canon Powershot SX50HS (in 24200 indian ruppes- approx. 400 dollars). This one has JPG, RAW and RAW+JPG formats. Plus 24-1200 mm focal length range equivalent to 35mm format. So you can shoot any king of photography from Landscape to Bird photography. This one has electronic viewfinder plus 270 degree vari angle display. And photo quality is also very good compare to my first cam. But less than DSLR. This cam is specially for those who want to shoot Long distance photography like Wildlife in very cheap price, And this is best option of too costly DSLR and long telephotos. Of course, this have slow autofocus compare to any DSLR, just 12 MP, only suitable for good lighting(ISO more than 400 give noise) and perched or standing birds only. At longest zoom, it restricts aperture to widen than 6.5 and also has minimum aperture of 8 and maximum 3.4. Videos have not manual exposure. Sensor is 1/2.3 inch only, approx. half of basic DSLR.
I have submitted photos from both camera and in pending list, probably will be reviewed first photo in 1 or 2 days. Though, Any one wants to see quality of images then go to my facebook page - https://www.facebook.com/VanitaPhotography