In reply to bengt:
> I've got a Panasonic FT3, which I carry in a small case, attached to myself with a lanyard.
> It has held up fine so far, but it is a so called "rugged" model, which means it is somewhat waterproof and freeze-proof.
> Besides water, the main problem with compacts seems to be keeping the battery warm.
I use one of these too, it's taken over from an Olympus mju 720. Both are great cameras, the video on the FT3 is much better though. Waterproof, shockproof and freeze proof, mine sits in a sling outside my layers on winter routes so I never have dramas getting it out for good photos. I've never had dramas from cold with the battery either, yet is on the outside of my kit.