What's great: Nikon's 1.8 aperture is as good as it gets.
The lens's wide angle is ideal for group photos; you can shoot high-def video with stereo sound.
What's not: Photos taken in the dark have a slightly flat color; doesn't shoot in RAW mode, the format preferred by true photo geeks. Some buttons are small.
Bottom line: The Nikon notches the victory on value; the P300 is basically as good as the PowerShot, but cheaper.