I bought a Fuji FinePix F401 as well... it's a 2.1 megapixel zoom digicam with a 3x optical zoom (equivalent to a 36-108 zoom lens on a 35mm camera)
Picture quality is more than adequate for a true compact camera - Remember, there will always be a trade-off between size and picture quality... (for anything more than snaps I use a Nikon D1X - a bit of a difference, but it weighs a tonne!)
The F401 (not uniquely) has also got the ability to record short lengths of MPEG video for playback in QT - might be fun for the odd night out in College? I've certainly enjoyed this facility!
(A friend of mine has the Canon Ixus V2 - the F401 definitely produces better pictures IMHO)
Anyway, good luck in your search...
