I have too many cameras, and too many lenses, but for a long while it was the XZ-1 that took everywhere, sometimes with a VF-2 viewfinder on it, sometimes with a flash. My first really expensive camera was the Olympus C-8080, that in function is very similar to the XZ-1, if not in looks (looks more like a modern super-zoom compact).
As I said, I took the XZ-1 everywhere, and more impostantly, I took it with me for those instances I really wanted to do a P&S session, say firing blindly at the goslings eating out of my hand at Slimbridge, or just snapping colleages at work. It doesn't, just like the old C-8080, agree to high ISO settings, but both takes excellent macros, as both have really superb lenses, and both love lots of light.
I have underwater housings to both, and while the old camera's is big as a house, the XZ-1's is the size, and form, of a classic Polaroid camera. Both need a good flash to do really well, both underwater, and out of the water. Macro shots they handle with expertize, and long exposures, too! I never used the C-8080 on land inside its heavy UW housing, but the XZ-1 does famously well inside its UW housing on land, because then it becomes a truely one-hand Point & Shoot, with everything easily accessible. The housing is proof to 40 meters, and yet weighs less than a pound. It turns the XZ-1 to a rain- & snow-proof, utterly silent camera, which it certainly isn't, normally. Maybe not discreet, but I would not hesitate to use it outdoors in a snowstorm!
Just in case you missed it: Low ISO is very important, say under (and including) 400 for the XZ-1, and under (and including) 140 for the C-8080.
Compared to some other cameras (in roughly the same category) I have both run long on one charge!