DPInterface has a recent review of the Canon PowerShot S5 IS and writes, “Image quality is good and on par, if not slightly ahead, of competition with low noise up till ISO 400. But using the same lens as the S3 means the Canon PowerShot S5 IS ‘inherits’ some of the image quality issues of its predecessor - namely color fringing and flare, the latter exists only in extreme conditions at wide-angle.

There’s some redeye too but that can be reduced/removed with the built-in redeye correction feature, computer software or an external flash. The Canon PowerShot S5 IS is a worthy successor to last year’s S3 and it is arguably the flagship Canon PowerShot (though some may disagree) since it has an overall better feature set than the G7. ”

Read more about the Canon PowerShot S5 IS here.