The S90 has the same sensor as the G11, but has an f2.0 lens and is truly vest-pocket sized.
I have a G10 and of course know what it can and can't do well. I haven't seen a G11, but POTN (
http://photography-on-the.net/forum/) has a thread with pictures taken on the camera, and so far I haven't seen one that impresses me nearly as much as the best the G10 can give. If you go to that forum (and if you're thinking of buying a Canon you should), find the G10 pictures thread and look back a few weeks to find a picture of a lizard. Quite stunning in its clarity and realism.
Certainly low light results are better from the G11, so if that's important then that's a factor (but that's when the f2.0 lens on the S90 comes into its own). But they're only significantly better when viewed on a screen or printed quite small. Print either at all large and the results will be way below a good DSLR - from both of them. And of course the G11 has a flip screen, which is nice in a way except that the movement is restricted so it can't do what I would want to do with it. And it makes the camera much more bulky.
I'm not trying to persuade you to buy my G10 (I already have a probable buyer), just trying to make sure your decision is as well informed as it can be. Have you seen the Olympus that Chris (Pelican Properties) is selling on this forum, for charity? Or if you fancy a
really good compact camera, have a look at the Panasonics that cost around double what the Canons do.