* I am a klutz, so want a camera that's waterproof and ruggedized: Look at Oly and Pentax waterproof and ruggedized models, they have several to choose among.
* I want absolutely the smallest, lightest camera possible. Casio and Sony seem to have the edge here, although numerous cameras from numerous companies are in the 5-6 ounce range. Pore over the reviews to avoid selecting a dog, of which there is an enormous pack.
Neither scenario is likely to get you a viewfinder, a wide angle lens, RAW imaging. I need a viewfinder and a wide angle lens, and prefer a RAW option, especially if the camera has overly aggressive jpeg noise reduction. Insist on all three and the list of compact digicams goes from easily five hundred models to a literal handful. Best-of-show at present is the Ricoh GX100. Expensive and not widely distributed, its capabilities are unmatched. As much as I'd like to recommend the lovely Canon G-9, its lack of WA rules it out for my uses. For the prime lens aficionado, the forthcoming Ricoh GRD II looks as though it's answered most of the criticisms of the current GRD.
The dwindling "prosumer" digicam marketplace has shed the serious slr contenders for over-megapixeled overreaching superzooms. Still, they have electronic viewfinders and image stabilization, some have wide angle lenses, and a few still offer RAW. But they're not the least bit pocketable nor weather-resistant.