Many of the people posting to this thread invoke the argument that a "Point & Shoot" camera should limit the photographers actions to 1) Raising the camera and composing the shot, followed by 2) Pressing the shutter release and taking the shot. Any other action by the photographer, to them, is forbidden!
The problem, as I see it, is that this is fine for modern digital cameras which auto-focus and automatically set exposure (f/stop, shutter speed and ISO). If, on the other hand, you are someone who likes carrying and using an older camera then you have a serious problem. The older cameras may have had a built-in meter, but you generally had to turn the shutter speed control and/or the aperture ring until a needle lined up with a marker. Similarly the focus was manually set as well. If you eliminate those cameras which require 1) Raising the camera, 2) Set the exposure, 3) Compose the scene, 4) Focus, and 5) Press the shutter release, then you restrict older cameras to the very basic fixed-focus/fixed aperture Brownies and similar. Meanwhile, the modern digital camera user may, quite legitimately, pre-set the camera for the type of scene expected - which action effectively programs the camera with a set of conditions which would otherwise need to be set manually.
To my mind then the whole "Point & Shoot" concept promoted on this thread is biassed towards the most modern, fully automatic digital cameras and places older film cameras and older digital cameras at a huge disadvantage because their internal processors/programming were either not up to snuff, or were non-existent.
Any fully automatic camera (auto-focus, auto-aperture, auto-shutter speed, auto ISO)
can be used as a Point and Shoot camera - aim it and press the shutter release - and is therefore a "Point and Shoot" camera. The term Point and Shoot has no bearing on the size or weight of the camera or its sensor size or the lens it happens to have fitted at the time of taking a picture or that it has an optical viewfinder or phase detection auto-focus. By the same reasoning, any film camera with a fixed focus lens, a fixed aperture and a fixed shutter speed is equally a Point and Shoot camera. In fact it is arguably more of a Point and Shoot than its fully automatic, digital counterpart for the simple reason that the digital camera
allows manual settings and adjustments while the simple film camera does not.
After all that, to make matters worse, you want to eliminate the few enthusiasts who want to shoot with old medium format film cameras
because they may have an advantage over a brand new fully automatic, backlit sensor, micro-processor controlled camera that will even sense the light, recognise the scene, identify the faces and then adjust the exposure as well as set itself to reduce noise and maximise definition of shadows and hi-lights, and then shoot at a gazillion frames per second! C'mon people. You're smoking too much of the good stuff. Let's keep it real.
I wish you all a very happy New Year and, besides prosperity, which we could all enjoy, my wish is that 2012 ushers in a period of world peace and tolerance for each other's customs, traditions and thoughts. Nevertheless I think the chances of that are very slim when a few people on this thread can't even agree on what is, or what is not, a Point and shoot camera.