Sure, the Canon PowerShot G1X is eminently more interesting as CES announcements go, but it's also not for your average snapshooter. For those people, there's the IXUS 500 HS and 125 HS.
Something you're probably going to see a lot of in 2012 is the battle for getting the widest, longest lens into the smallest camera body. Canon's entry is the IXUS 500 HS, a 10-megapixel ultra-compact with a 28mm wide-angle lens and a 12x zoom (Canon claims that it's "the world's thinnest" with those lens specs).
These IXUS cameras use high-sensitivity CMOS sensors (hence the HS in the name) for better low-light and shooting performance. It will capture movie clips at Full HD and you also get a high-res 3-inch LCD for your framing and viewing pleasure.
The 500 HS replaces the IXUS 300 HS, which is/was a very different camera, particularly in the lens department with its 4.4x f/2.0 lens. From that aspect, this is kind of a disappointing announcement. Here's hoping Canon hasn't killed off having an f2.0 lens in its IXUS line altogether.
Now, if you care less about length and more about width, there's the IXUS 125 HS. Its lens starts at an ultra wide-angle 24mm and goes out to 120mm, a 5x zoom range. Oddly, its HS CMOS sensor is 16 megapixels. I say that because this is the lower-end camera of the two getting the higher resolution, which might confuse consumers who've been trained to believe more megapixels equals better photos; it does not. Regardless, this model, like the 500 HS, features a 3-inch LCD and captures Full HD movies.
Look for these cameras in Australia in March at a price yet to be determined.