Simply..what is the best point and shot digital camera, where price does not matter, but processing speed does

perfect quality with lighting speed between shots

I love my CANON powershot G2.....Great camera....And I hear nothing but good things about their newer models (my G2 only has 4.0 mega pixel) My boss has a newer canon powershot that we use at work....and it takes a lot of abuse , but still takes killer shots and never fails us !!!!

Its hard to name 'the best'......but Canon's new Digic III processor is very fast (approx. 12% faster than Digic II, which is still a fast processor) and you will see it in the newest models.

Don't forget that you should also use a fast memory card for optimum write speed performance. I recommend Sandisk Extreme III (its real fast).

Point and shoots will never give you lightning speed. With point and shoots you're 1/10th second behind the action before you even press the shutter button, due to the inherent delay of the electronic viewfinder.
If speed and responsiveness matter, get a digital SLR:
A Canon 400D or Nikon D50/ D80 for 3 frames per second.
A Canon 30D or Nikon D200 for 5 FPS.
A Canon 1D Mk2 or Nikon D2Xs for 8+ FPS.