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<< how is this a better deal than the Canon A40? >>
I've been considering canceling my twice delayed S200 and getting the A40 for about the same price, or less.
The primary difference between the A40 and the S300 is that the A40 is not a compact. Also, it doesn't come with rechargeable batteries (and charger), so that's another $35 or so. They (the AA's) will run much longer than the tiny rechargeable included with the S300, but the S300 won't immediately need new batteries, so that's a factor (in addition to size) to consider.
I think I may also have read that the Elph's have anti-glare coatings on their LCD screens while the A series do not. >>
I have about 30 NiMH batteries and charger already, so the batteries weren't a issue for me. If the S330's batteries are anything like the S10s then I can promise you the first thing you'll do is buy another battery for $30+.
If the only primary difference is the A40 isn't "compact" (being compact is in the eye of the beholder, and since neither of these camera's are truly "pocketable" I don't consider either "compact") then I would put my money on the A40 anyday, especially since it's cheaper and available now instead of next month....
just something to think about.