Sitting atop a series of new point-and-shoot models today is the PowerShot SX230 HS. The new “HS” designation is one you should expect to see a lot of now that the “IS” designation has become used on all but a couple models. The HS designation is… well, let’s let Canon tell you what it is:

Introduced last year, the HS SYSTEM is a technology used to enhance image quality in low-light situations without the need for a flash. Making up the HS SYSTEM in these new models is Canon’s DIGIC 4 Image Processor combined with a High-Sensitivity CMOS sensor, which helps to reduce noise at high ISO levels and expand the camera’s dynamic range, ultimately capturing greater detail and color in images in darker settings, like a wedding reception. With the use of the HS SYSTEM, consumers are able to capture clearer images with less noise and blur, resulting in brilliant, sharp images.

Got it? Good. Moving on. The SX230 HS replaces the SX220 IS, and continues a lineage in a line of point-and-shoots I’ve liked for a couple generations. We used to use one of its predecessors for shooting Raw Footage because the video output was so good. This newest one has a 12.1 megapixel sensor married to a DIGIC IV processor and a 14x 28mm equiv optical zoom lens. On the back you’ll find a 3″ OLED screen to guarantee your pictures never look as good on your computer as they did on the camera. The movie mode is up to 1080 HD with dynamic image stabilization. And, oh yeah, this is Canon’s first camera to have GPS.

It’ll be available in black, blue, and the pinkest “red” I’ve ever seen for around $350. Hit the jump to see more exciting pictures.