The TechZone has posted a review of the Canon PowerShot S3.

The PowerShot S3 IS digital camera's 12x zoom lens has an equivalent film focal length of 36-432 mm (f/2.7 at wide angle and f/3.5 at telephoto). Despite the extraordinary range of the zoom lens, it retracts securely into the camera when it is powered down. The optical zoom can be augmented by the camera's 4x digital zoom raising the maximum (35mm equivalent) focal length to that of a 1728mm lens. What's more, this UD lens features a high-speed silent zoom function powered by a micro motor USM drive, increasing ease of quiet, non-intrusive image capture. For extreme close-ups, the camera's macro and super macro mode permit shooting a subject as close as zero inches from the end of the lens barrel.

Canon PowerShot S3 IS Digital Camera Review