The website 35mmc.com has MANY reviews of different P&S cameras.

This Gobe Magazine post provides a decent overview of a few of the cult-status options.

From perusing 35mmc briefly, it seems like there are a few P&S that have gained cult status, and therefore command too-high prices. YASHICA T4/5 cameras seem to be the most loved of the cult cameras (I think because it has a good lens), but it’s $500+. This post also mentions that it’s used by Terry Richardson, which is part of the reason why it’s so expensive, and also a definite deal breaker. Another over-valued cult camera is the OLYMPUS \(\mu\)-ii. This post says that it’s good, but just not worth the dime. Furthermore, it suggests in the age of cult-status cameras, you should just buy a decent-looking P&S for around $50 and go with it…

Also, this post compares the YASHICA T4 to the cheaper (apparently very basic) OLYMPUS AF-10 SUPER, and suggests they’re fairly similar…