Hi Beth! I got my S3 back in Sept. My prior camera was a Canon A70 and DH has the A95, so even though I'm not familiar with the A85, I guess I can assume it's somewhere between the A70 and A95, huh?
That said, I LOVE my S3!! You'll have shutter lag with any camera (unless you get an SLR), but the S3 has a "sports" mode that includes continuous shutter - just hold the shutter button down, and it takes picture after picture, every 1.5 seconds or so. (Be careful - you can take a LOT of pictures this way).
As for low light, the ISO adjusts up to 1600 I believe. And in certain shooting modes, the ISO will adjust automatically so you don't have to think about it. However, the high ISO leads to noise (see below).
And the 12x zoom is awesome!!
What I don't like: DH's A95 has a lot less noise than my S3, esp. in low-light conditions. Probably has something to do with the sensor size (one of the other more knowledgeable guys here has a great post about sensor size).