Favorite point-and-shoot camera for the mountains?

Yeah, adjusting from an SLR is what got me to the Lumix LX3, and at the time, the Canon G series seemed like the other reasonable option as a "bridge." There's a funky optical viewfinder add-on for the LX series, but it only shows you the wide angle view so if you're zoomed in you still have to guess a bit.

There is also an easy/reversible hack to add pro level functionality (manual controls, raw mode) to any canon POS:

chdk.wikia.com/wiki/CHDK

In theory you put it on your sd card pop it in and it just works. It doesn't give you the better sensor or control rings of the high end ones but should give you some manual controls and you can do cool things like script it to do time lapse or motion detection.

I use a Panasonic Lumix DMC-ZS3.  It has a leica lens and a 12x zoom. It also zooms during movie mode, which is great for taking video of people skiing towards or away from you.

It has a "snow mode" for taking pictures on snow, and a bright lCD setting for the display screen, but it doesn't work that well in really bright conditions. It lacks an optical view finder for those bright days which is one of it's flaws.

I just started using the "shutter mode" to catch people skiing in a series of quickly shot stills. It allows me to chose the best shot of a bunch rather than miss good picture opportunities by clicking the shutter too early or late.

It easily fits in my pocket. I actually carry it in a pocket in a padded "ciggarette pack sized case" It's not a bulletproof model, like some of the other pocketsized tough cameras, but it's probably a better camera in other ways...  

The rechargable battery seems to last forever for some reason. I paid $300 for mine 3 years ago, and it works perfectly still.

Just like chosing a ski, chosing a camera is always a compromise in one way or another....

reviews.cnet.com/digital-cameras/panason...6501_7-33543456.html

and you can do cool things like script it to do time lapse or motion detection.

now I want a Canon so I can use this script. 

I had a Lumix and my wife or kids broke it. The Leica lens was good, I liked the quality, as others here.

Also have the Casio Exilim and agree it is a poor performer on photo quality. My daughter managed to break this one too, even though it's pretty rugged. It still works, to be fair.

So far, the Nikon that I recommended has given me best durability and quality combo for my purposes, still not broken.

I am always looking for something better so great to hear about other options

Cheers
Ivo

now I want a Canon so I can use this script. 

CHDK works with really cheap Canons, going back a long time. Ebay/craigslist, and you're set. Just check the compatibility list before you buy.