Quadruple meh. The Canon S110 has the same sized sensor and is the same price. The Oly has a better lens spec-wise, but the Canon will deliver a better picture in general. The Oly menu system will also need a team of code breakers to decipher, while the Canon is clear and straightforward.
Even the Nikon I posted yesterday will give a far better picture than both of these for less money, albeit at the cost of pocketability.
But yes, it's absolutely worth it to splurge on the Sony.