Great thread with some amazing pictures. Since the OP was asking about point and shoot type of cameras, I'll suggest one in the low $400 range. When I started in photography in the 1960's, format size was king, but large format doesn't allow quick point and shoot operation. My preferred camera back then was a folding bellows 2 1/4 X 2 1/4 that had a Carl Zeiss lens that could fit in my pocket. Much easier to have and use than my 4 X 5 Linhof, which I used for studio shots.
Now 50 years later I've embraced digital cameras and have discovered that format size (sensor size) doesn't play near the role that it used to. Advantages of a smaller sensor are of course a smaller camera, but also a smaller standard focal length. This means with any given zoom lens, you have a much greater magnification with a small sensor than a large sensor. Since the current crop of small sensors are packing over 20 mp on their CMOS sensors, why not save a lot of coin and bulk on the camera purchase?
The camera I'm currently using is an old Sony Super Steady Shot DSC-H5 with 12X optical zoom Carl Zeiss 6~72 mm lens. Only 7.2 mp to give you an idea of how old this model is. The current offering from Sony would be DSC HX-300 with 20.4 mp and 50X optical zoom. Two things sold me on the Sony, the lens and their Steady Shot image stabilization. The acid test of their image stabilization is shooting while driving my 1923 Ford Track-T, other drivers of Ts on our events. The below pictures were taken at 60 mph, steering with one hand, camera in the other hand. No cropping.



This shot would not of been possible without good image stabilization because not only was I driving, but I zoomed to compress the other Ts and background.

This is what I look like when taking these on the run type pictures. Now you can all laugh.

Mary Ann took the above picture at the same time I took theirs on hwy 395 north of Carson City, Nevada.

To wrap up this long post, if your looking for some great "wing man" pictures where the shot gives the impression of razor close separation but in reality your at a sane distance, then use a longer focal length to bring your wing man in close and let a well engineered image stabilization pull off the shot.