I've owned several Canon P&S cameras (SD1000 currently) as well as an XTi and I wouldn't consider buying a p&s without the viewfinder. I don't think anyone has touched on this subject but main reason for me to have an OV is the fact that you can pan with (follow) your subject so the subject is sharp and the background is blurred... I find that it's much more difficult to do with a LCD especially because while the camera is taking the picture the LCD doesn't (cannot) display the real-time image. I do a fair amount of sports/action shots so its great when you can pan your subject. The OV is great for things like bright sunlight and battery saving but I haven't used it for these reasons a whole lot because the SD1000 has exceptional battery life and has a great daytime LCD.
Also on the topic of high-ISO noise... these cameras (and basically every other point and shoot under the sun) are basically useless after ISO 400... I find that with each successive model with higher MPs gets worse and worse with ISOs... Why can't they just stick to 6 and 7 MP? I don't see a need for 10 MP. My old 3 MP S30 takes better and clearer pictures than my SD1000 (albeit it has a better lens and slightly larger sensor, but it is, however, ~5 years older)
Sony's just released a 15.5-inch addition to its VAIO S Series that not only adds a crucial bit of extra display acreage, but also bumps things up to a full 1080p.
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I've owned several Canon P&S cameras (SD1000 currently) as well as an XTi and I wouldn't consider buying a p&s without the viewfinder. I don't think anyone has touched on this subject but main reason for me to have an OV is the fact that you can pan with (follow) your subject so the subject is sharp and the background is blurred... I find that it's much more difficult to do with a LCD especially because while the camera is taking the picture the LCD doesn't (cannot) display the real-time image. I do a fair amount of sports/action shots so its great when you can pan your subject. The OV is great for things like bright sunlight and battery saving but I haven't used it for these reasons a whole lot because the SD1000 has exceptional battery life and has a great daytime LCD.
Also on the topic of high-ISO noise... these cameras (and basically every other point and shoot under the sun) are basically useless after ISO 400... I find that with each successive model with higher MPs gets worse and worse with ISOs... Why can't they just stick to 6 and 7 MP? I don't see a need for 10 MP. My old 3 MP S30 takes better and clearer pictures than my SD1000 (albeit it has a better lens and slightly larger sensor, but it is, however, ~5 years older)