No, my suggestion was about making the most out of a bad situation.
As stated, most compacts only have two or three aperture settings, so using the modes you can (almost) get what you want. As for the shutter speed, the Sport , Portrait or Night Time mode (as well as slow flash in some cameras ) do help but you still don't know what you are going to get out of that box of chocolates.
I am slowly working on my "fantasy" backpacking camera.
Really we are not that far from it. Take the ergonomics and controls of the Ricoh GX100, the sensor from the Fujifilm F30 (maybe the F100 will work better ....) a 24-100mm lens, some weatherproofing ( water proofing would be better but not necessary) , use the Canon Digix or Fuji processing, Panasonic's Image Stabilizer, Panasonic's barrel and pincushion correction ( note that those straight lines on the Panas are obtained in processing) and you get a pretty fine camera or maybe you end up with a camel.
BTW, something that cannot be done using small sensors is to have the very shallow depth of field of a FF or APS sized ones. The smaller the sensor, the wider the focal length will be so the greater the Depth Of Field.
(of course someone will work out how to "defocus" the background during processing...., you read it here first)
After a quick Google search I found out that there are already several patent applications regarding that idea.