Well, I have been contemplating about getting the F31d myself. And I am convinced that it is possibly, one of the best low light low noise cameras available.

If you need to be convinced by photos, check this link out
http://forum.lowyat.net/index.php?showtopic=456543.

In terms of size and price, I am not sure if any other smaller sized compact camera is able to match (or for that matter, beat) the low light low noise capability that the F31d has. (Anyone out there, feel free to correct me if I am wrong on this one).