My photographic arms: Sony DSC-V3, iPhone, Sanyo Xacti DMX-HD800.
I always have my Xacti in my bag. It takes 9MP stills and 720p video. I tend to use the V3 with a wide-angle lens on outings. My iPhone never leaves my side.
After hanging around with Roy, and other truly serious camera friends, I am sincerely contemplating a DSLR. I will be dangerously tempted by the next Canon or Nikon DLSR that comes out with internal GPS. Video would be another seductive feature.