Nokia N8 or Compact Camera?

I have a Nikon DSLR but I would like something more pocketable for when I don't want to lug that around. I have two options:

a) Nokia N8 (12 megapixel camera, is supposed to take great pictures and is the best camera phone out there)

b) A compact point and shoot

Which option would be the best? If I go for the compact point and shoot, which one would be best recommended?

A camera phone will never beat an actual camera for one main reason… Sensor size.

These people are getting great pix with their Nokia N8.

The advantage to a camera phone is that you'll probably always have it with you.