Digital Home Thoughts: Looking for a Small Camera - Any Suggestions?

As much as I love my Canon EOS 300D, it's a big camera, and in many scenarios it's just not a workable solution. I have my Canon S400, but in comparison to the size of many cameras on the market, it's pretty large. I also dislike the shutter lag on the S400 - there's nothing more frustrating than missing a great moment because the camera is trying to focus. I've learned to press down halfway to "set the scene" and get the focus ready, but when other people use S400 they just press the button and get frustrated when it doesn't take the picture right away. I think it's perfectly justified - why shouldn't the camera take the picture right away? That has to be the #1 complaint I here from people after they use a digital camera - "Why does it take so long to get the picture?"

So I'm looking for a new camera. I have two primary needs: small size and no shutter lag. I also want an optical zoom, so the ultra-tiny Sony cameras are out (and they're disqualified anyway because they use Memory Sticks). Oh yes, I also need the camera to use either CF or SD (likely SD at these sizes). I've been looking at the Casio Exilim cameras, and got a bit of hands-on time with one on Monday night. I was extremely impressed! The speed at which I could take a photo was simply awesome - it felt as fast as my 300D, which is fast enough for me. I'm a big fan of Canon, but I don't know if they have anything that compares - I see they've just released some new thin and light SD-based models, the SD200 and SD300, but there's no shutter lag information. In fact, it seems that most manufacturers don't list shutter lag specs.

So what's the fastest, smallest camera on the market?