My Canon G9 Power Shot, which is basically a point and shoot with many advanced features including different ISO settings, has several "night shot" settings and shoots great scenes at night.
The G-9 was one of the better P&S cameras but it cost nearly as much as most beginner DSLRs and the DSLRs will beat the heck out of it in very low light.
It is also getting a bit long in the tooth but I agree, still capable of excellent results under most conditions.