I've got a litlle Practica point and shoot that I use all the time instead of my dslr, the only thing i really miss is the speed of the shutter response on the dslr,because of the limitations of the practica, if I'm doing more than snapshots, I have to think a little more about the limitations of the camera, and how much post work i can do on the image,instead of just setting the dslr on auto and firing off a huge pile of frames and hoping to getting something half decent that I can bodge into a decent compo later.
I actually quite like the discipline that a compact forces on you, and probably use it more, it lives in my jacket pocket when I go out, well anywhere really.