We have an S3. It is wonderful!
I've been taking a break from lampworking since I was pregnant with DD - almost 3 years ago.
First I didn't want to risk it while pregnant, then it was just to hard to do with a toddler running around. Naptime is homework time for my kindergartener, and it's tough to get time to myself when DH is home to watch them. Anyway, getting back on topic...
The reason I said that, is that my priority right now is good action pictures and video. I forget the terms, but the S3 had the fastest delay between pushing the button and actually taking the picture. It drove me INSANE to always miss great shots because of delay.
Another cool thing about it is that you can take pictures while you are taking video. It makes the video pause for a second, but that's not so horrible - and you know the exact moment in time that picture was taken.
Oh, and it has a good recovery time after taking the picture. Which can also be improved by buying a fast media card, so don't skimp on that either.
So for those with young children - spend that extra $100 and splurge on the S3.
Downside - the pictures/video are much bigger. I'm eating up hard drive space FAST these days. And, you likely really will need to buy a bigger card (or two), which is an additional expense.
Nancy