Pentax Optio 555 or Canon Elph S400

I'm looking to buy a digital camera for the imminent arrival of my
first child. From my research, I like the Optio 555 for its zoom and
manual control (more important to me than the mom-to-be, who will only
ever point and shoot) but am concerned about its speed. I also like
the Elph S400 for its (relatively fast) speed and ease of use.
Picture quality is actually the most important feature to me, but I
haven't been able to find any head-to-head comparisons. I can't
decide which way to go - does anyone have any thoughts on which camera
is better? Thoughts on other cameras would also be appreciated, but
from my research, I'm really liking these two. Thanks.

 

I really like the Pentax Optio 555. Probably the things that made me pick
the Optio over the S400 include:

1. 5x zoom. It's like have a built-in teleconverter. Note also that the
Canon maximum aperture in it's telephoto position (108mm) is f/4.9. The
Pentax is f/4.6 at 187.5mm. However, at 108mm, the Pentax is around f/4.0.
The Pentax gather around 2/3 more light, allowing faster shutter speeds or
lower ISO ratings.

2. Full priority modes (Aperture priority, shutter priority). The Canin is
either fully automatic or fully manual. Helpful if you're trying to do more
creative work.

3. Preview histogram. I find this invaluable in helping to judge exposure
before the shot is taken.

4. Pentax's hybrid AF. It allows auto focusing in nearly dark rooms
without an annoying AF assist light (although this mode focuses slowly).
I've been able to get pictures of our baby sleeping without worrying about a
disturbing light waking him (of course they were using a time exposure
without flash).

5. Longer flash range. The Pentax flash has about a 50% longer reach than
the S400.

6. Long battery life. Pentax's battery life is around 2x Canon's.
Typically I can shoot all day on a single battery (although I carry a spare
just in case).

7. Availability of a remote control. Great for group shots you want to be
in.

There are some advantages to the Canon; it's somewhat smaller, I probably
prefer 4MP over 5MP due to noise/resolution tradeoff, and Canon's lens
shutters seem to be more robust.

Overall, I'm satisfied with my choice.

James