I've been reading a lot of reviews lately on these 2 cameras and apart from the 2 MP difference and the slightly larger screen with upgraded resolution they both seem to be identical...I forgot the Canon upgraded the movie recording time.

I can get the S3 for $419 and the S5 for $549. This is quite a significant price difference for almost the same camera.

Any suggestions as to why I would chose one over the other?

I've been reading a lot of reviews lately on these 2 cameras and apart from the 2 MP difference and the slightly larger screen with upgraded resolution they both seem to be identical...I forgot the Canon upgraded the movie recording time.

I can get the S3 for $419 and the S5 for $549. This is quite a significant price difference for almost the same camera.

Any suggestions as to why I would chose one over the other?

I've been between the S3 and S5 - and looking at the G7 to be honest. However, after much research between the S3/S5, the bottom line is the biggest change is the size and resolution of the LCD screen on the S5 - it's a lot bigger and more resolution makes it easier to read in the daylight. The S5 has a hot shoe also. They're both excellent cameras.
ETA: after seeing B&H price, you might want the S5 - it's about what you were going to pay for the S3.

BTW, the prices you quote are very high. The S5 is selling below $500 almost everywhere and the S3 for less than $300.

B&H prices and specs.......wow! A couple of days ago the S5 was $469 at B&H - now it's $435.

BTW - there are customer reviews included with the camera specs at B&H - here:

S3 - $294
http://www.bhphotovideo.com/c/product/425379-REG/Canon_1101B001_PowerShot_S3_IS_Digital.html

S5 - just reduced to $435!!!!!!!!!
http://www.bhphotovideo.com/c/product/495623-REG/Canon_2077B001_Powershot_S5_IS_Digital.html

B&H is a very reputable online dealer - one of our sponsors - you can click on the link here.

Liz

Thanks for your input Liz... I live in Canada so unfortunately with the smaller exchange rate, taxes, and duty the price works out to be the same.

I decided to go with the S5 and I'm so glad I did. I've played with the camera for a short while but the LCD screen is gorgeous and makes a huge difference from the S3. I'll follow up with a short review in while.

You will be glad you got the S5. My wife has the S3 (bought before the S5 came out) and she is always complaining about not being able to read the LCD screen in sunlight. Please let us know how you like it.

Cheers,

WesternGuy

Thanks for your input Liz... I live in Canada so unfortunately with the smaller exchange rate, taxes, and duty the price works out to be the same.

I decided to go with the S5 and I'm so glad I did. I've played with the camera for a short while but the LCD screen is gorgeous and makes a huge difference from the S3. I'll follow up with a short review in while.

Congratulations! You won't be sorry! It's a wonderful camera - and I believe I mentioned previously, I've gotten nice sharp images at 432mm. I agree with WesternGuy about the LCD - between the larger size and higher resolution it's so much easier to see than the S3.
Even on a sunny day.

Liz