(FORTUNE Magazine) – Olympus D-40 Zoom On the serious side, Olympus' D-40 Zoom ($699) is a true four-megapixel digital camera with advanced features, like an all-glass lens and a seamless optical-digital zoom that's the equivalent of a 35mm-98mm zoom lens on a 35mm camera. With optical image enhancement, it delivers sharp prints up to 13 by 17 inches. On the fun side, it's easy to use and small enough (about 7.5 ounces) to carry everywhere for taking casual sub-megapixel snapshots. The D-40 has a ten-mode control dial that allows a much greater chance of perfect exposure in a variety of lighting, and it will capture up to a minute's worth of QuickTime video with audio. It runs on a lithium battery or a pair of AAs. The only drawback: the puny 16MB SmartMedia card. www.olympus.com

Iomega HDD 30GB portable hard drive Back in Jurassic times, the generous but sensible gift for grads was the U.S. Savings Bond. These days, in the Greenspan Era, the most sensible gift is an Iomega portable hard disk drive for backing up data--whether it's a business presentation, a dissertation, or precious MP3 files. The rugged HDD 30GB is small enough to carry from office to home, or to lock in a desk drawer. It connects to any laptop or desktop computer (the USB 2.0 version costs $259; the FireWire one is $279--you'll need an optional cable if you mix platforms). And it's hot-swappable and plug-and-play. The HDD 30GB comes with Iomega's QuikSync software for easy data backups and a utility for disaster recovery. www.iomega.com

Dymo LabelWriter 330 Turbo Those of a certain age may remember the original Dymo label maker, which punched letters and numbers, one by one, on plastic tape. The newest Dymo model, the LabelWriter 330 Turbo, is hundreds of times faster, much more versatile, and significantly more expensive ($299). This small desktop appliance spews out neat self-adhesive labels for everything from envelopes and packages to floppies and file folders. Its 300-dots-per-inch resolution, best in the category, allows clever applications like printing nametags with black-and-white photos (handy for the next class reunion). It's clever enough to pull addresses from applications like Microsoft Word and Outlook, and it also comes with its own software. www.dymo.com

APC Kryptonite lock If you're one of the 350,000 or so people whose laptop was stolen last year, you know that losing a computer isn't as devastating as losing the files it contains. That's why you should back up your files. But losing your computer sucks too--making this Kryptonite combination lock ($30) from American Power Conversion a smart gift. The vinyl-coated, braided-steel cable is six feet long and 5mm thick. (An 8mm version, $40, is available for tough neighborhoods.) The four-digit combination lock is resettable and perfect for those of us who also lose keys. www.apcc.com

CardScan Executive 600c Business-card readers have been around for years, and basically they're more trouble than they're worth. The idea is to stick in a card and have the pertinent information converted to text and inserted automatically into your Palm or Outlook, or some other database. It's still not perfect, but the CardScan 600c USB scanner ($299) is the first one I've used that is actually better and faster than entering the info manually. Best of all, using the cardscan.net feature you can right-click a phone number and dial it, or click on an address and map it. Very slick. www.cardscan.com

Sony Micro Vault Sony's Micro Vault USB flash-memory card is both cool and practical, making it a great choice for grad or dad. The version I tested is smaller and lighter than a pack of gum, and stores 64 megabytes of data. Plug it directly into a computer's USB port, and it shows up on your desktop as a new disk drive, ready to store files. Most newer PCs and laptops have USB ports, so why lug a laptop to the library at school? Use the library computer and save your files--text, photos, PowerPoint presentations, tunes, whatever--on the Micro Vault. Tuck it into your pocket, and then drag the files back to your main hard drive when you get home. It's great for transferring files between home and office too. The Micro Vault comes in several models: 16MB ($50), 32MB ($70), 64MB ($100), and 128MB ($150). www.sony.com

Microsoft Xbox Controller S One of the raps against the controller that comes with the Xbox is that it's too big for people with smaller hands. But as Yoda shows in the current Star Wars movie, smaller people can do amazing things with the proper tools. Sold as an option for the Xbox, the new Controller S--yes, the S is for smaller--is easier to grip, and the primary buttons have been redeployed to be more accessible in the heat of battle. In short, Microsoft has picked up some tricks from Sony's PlayStation 2, which has been kicking its butt in the console wars. The Controller S ($40) is easier on the thumbs, which is important if your videogame-playing grad is hitchhiking home from school. www.microsoft.com

Panasonic SV-AV10 portable media player It's the size of a small stack of business cards, but Panasonic says its tiny SV-AV10 portable media player ($450) is "always ready to party." So, you decide whether it's for a dad or a grad. The SV-AV10 is a combination digital camera, video and voice recorder, and MP3 player. At 3.5 ounces, it can be worn around the neck or carried in a pocket. The removable 64MB SD memory card holds several hundred snapshot photos (there's even a built-in flash) or 30 minutes of MPEG-4 video (viewable on the flip-out two-inch LCD screen). On the audio side, it stores the equivalent of a CD of music, or a class lecture, or voice memos about class assignments, whichever seems more important. Need more storage space? Get another SD memory card. www.panasonic.com/sd

EarthLink MailStation Computers can be confusing and expensive, and no matter how hard you try, you may not be able to convince Dad (or Granddad) to use one, even after you explain the wonders of e-mail (leaving out the annoying spam-and-virus details). The MailStation basically does nothing but send and receive e-mail. It has been around for years, surviving the rise and fall of so-called Internet appliances (EarthLink, an Internet service provider, bought the rights from a company called Cidco). Just plug it into a power outlet and a normal phone line, and start swapping e-mail. Service costs $10 a month; commit for six months and get the MailStation appliance free. The MailStation also has a simple address book, calculator, spell-checker, and calendar. That's as fancy as it gets, but cheap and easy are powerful words. www.earthlink.com

Check out Peter Lewis' new column at www.fortune.com/ontech

Feedback? technology@fortune.com