For xmas I bought both my fiance and myself a new point and shoot compact camera. I had previously owned a Sony DSC-T1 and I really liked it, but I really love my Canon EOS 20D so I picked up a pair of the SD550s. The camera takes wonderful photos, but when I take pictures of anything close and the flash fires the photo is totally overexposed. This shouldn't be a problem with a $500 digital camera, it certainly wasn't with the DSC-T1. I hope that Canon will come out with a firmware update to regulate the flash properly.
UPDATE Ok so after talking to a salesperson at Samy's Camera where I bought the camera and some experimentation I got the exposure working ok. I turned on Macro mode (even though I'm shooting from a couple feet away) and that helped and then I tried Manual mode with the metering set to center weighted and that fixed the problem. Also using the redeye reduction flash helps too.