4/3rds are not compact if you're carrying even one extra lens with them. They are surely not pocketable even if you're not. The only difference is 1- they are cute, and 2- they're easier on the neck than a DSLR when you carry them.
My S95 is a truly pocketable camera...and even after being a year old, it is arguably the best P&S in the market. The low light photography is where it shines the most..plus manual control over everything. It surely is a keeper.
A low light example : There was a street light more than 100 meters away, and an energy saver in my backyard lighting up the tree.
