now, what kinds of pictures am i really capable of taking? i'm just a beginner, and i wanna get good.

I don't know anything about the SD550, but I can tell you that I still take my first digital point-and-shoot (an old 2.0MP "expendible" digital camera) on risky outings (fishing with a bunch of guys, standing in surf, etc) and I can get plenty of images worthy of screensavers.

It's not (all) about the equipment. It's about your willingness to listen, try new things, and practice. If you can do that, you'll take great pictures.

Shorty, I will post some sample images in the Viewfinder Forum addressing point-and-shoot cameras.

thanks alot, now its time to really understand how and when to use the manual components of the camera