Be careful considering it a "point and shoot." That is, I don't want you to falsely get the impression that it's a 1-click camera. It's really only a point and shoot in size. In terms of features, quality and use, it's really more like a mirrorless camera with a fixed lens. It's sensor is the same size as the Nikon 1 series -- so it has the same size sensor found in a line of mirrorless cameras. It actually has more features than the Nikon 1 -- the features, including the manual controls, are more in line with a high level dSLR. In fact, it has some manual controls/features that I wish I had on the A55, including tracking focus, peaking manual focus, and customizable memory settings.
And finally the lens, while it is a fixed lens, it is actually superior to the kit lens included with most dSLRs and mirrorless systems.
If you are leaning towards a compact camera due to size, then the RX100 is a fantastic choice. But if you are thinking that is will be easier and simpler than a dSLR.... then it's not a great choice.