I've been doing a lot of research in preparation for buying my 1st digital camera. My 1st decision was to focus on Canon products. I starting concentrating on the G series, the G3 in particular, but at the end of the day couldn't justify spending $500+ on a camera. The G2 (and even the G1 if you can still find it) are less expensive alternatives, but their big deficiency is that they don't have the DIGIC and iSAPS technology - the A70 does. And it's relatively cheap too. I decided that 3 MP's was plenty for me, and I didn't need all the bells and whistles of the G series. The A70 has multiple exposure options, good lens and zoom capabilities, and other than the MP level has the same processor as the top-of-the-line G3. I'm going with the A70.
Heck, by the time I wear out the A70 the G8 will probably be out and you'll be able to pick up the G3 for $300!