Those with the point and shoot cameras do exactly as the camera class implies, point and shoot.
I know LOTS of people with DSLRs that do the same thing. I was at a wedding last week and my friend handed my his Rebel XSi and asked me to take a pic of him. When he saw me flip the wheel away from the "green box" mode, he looked horrified.
Long version: A good photographer can take acceptable pictures with almost any camera. A good photographer with a good camera can take even better pictures, particularly if the situation is outside of the capabilities of a cheap point and shoot (low light, very wide dynamic range, etc). However, a BAD camera can ruin even a perfect photo opportunity. On the other hand, even the most expensive camera in the world won't turn a novice into a pro photographer.
Short version: The photographer's skills are more important than the hardware, but good equipment will allow the photographer to make better use of those skills.
Bingo. I have seen some horrid shots from people with DSLR's. They never leave Auto mode and they never buy a lens other than the kit lens. They pretty much overpaid for a point and shoot. It's like buying a corvette and pulling the plug wires on 2 cylinders.
I bought a Canon A80(4MP) used on ebay for $30. This was after have a DSLR for many years.
I took these shots with it.
Impressed me plenty.
Yes and no. Put a dSLR and P&S in the hands of noobs and tell them to shoot full auto. Chances are the dSLR will handle the shots better.
dSLR>P&S for quick recovery and low light/movement shots.
That said one is just taking snapshots at that point.
Becoming a photographer is a lot of composition of the shot and using depth of field and manual manipulation. You are never going to get good bokeh with a P&S and this is what gives classic pictures their 'look'. This doesn't mean a P&S takes a bad shot though...it's the whole 2D vs 3D thing though
The biggest mistake anyone makes is hiring a photographer because of his gear. Many weddings are destroyed because of a photographer that has no clue on the classic shots nor understands the emotions behind the event. I hope our members that are doing it have at least followed a pro for a while or took a few classes.