I currently own an 870IS and have both good and bad things to say about it. I initially owned an SD800IS (870IS earier version) and had nothing but great reviews for it. When forced to look for a new camera, the 870IS was a logical choice. There are both good things and improvements that can be worked upon:
Pros:
-Image stabalization is great! Taken many a great pictures in low light situations. Remember to use both hands and brace those elbows!
-LCD screen is large. Easy to compose pictures using this screen.
-Durable and sturdy. Doesn't feel cheap to me.
-Wide angle lens is by far the best feature on such a small point and shoot. You'll get great wide shots that other cameras just can't do.
As for the cons:
-Awkward On/Off button layout. The on/off button is raised and on top of the camera that can accidentally be pushed.
-The "view picture" button is placed in the upper right corner on the back side of the camera so your thumb can hit it.
-1 hand functionality. No natural grooves in molding that makes taking pictures with 1 hand feel secure. Holding with 1 hand, your thumb will obscure some of the LCD panel. May feel awkward to you. I'm on the go and use the camera with 1 hand 99% of the time and have learned to not cover the LCD and push any buttons. Granted, I've gotten used to it and feel proficient with the camera.
-2 tone black/silver. Purely aesthetics. Not a technical issue, just a personal one
Overall, I looked into plenty of cameras and was drawn back to IS and the wide angle lens of the 870. Tested out many others and it just didn't provide the functionality that the 870IS gave. Most of the cons I've pointed out have been resolved with continued use of the camera (kinda like riding a bike), except the 2 tone.
Looking at all the point and shoots on the market now, I'd still go back and buy an 870IS.