I am BUYING A SONY DSC S600 DIGITAL CAMERA - ANY SUGGESTIONS? IS IT A GOOD BUY - PL HELP WITH UR EXPERIENCE?

It's a good camera. Here's the conclusion from www.steves-digicams.com. His reviews are always reliable.
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The Sony Cyber-shot S600 is a very good all-around performer. It shuns ultra compact styling and the trend of providing a 2 1/2-inch LCD without an optical viewfinder, instead providing a versatile set of features that are useful in every day shooting situations; I especially liked the S600's wide angle zoom range, very powerful flash and versatile range of sensitivity settings. With very good image quality, 6-megapixels of resolution, high-quality movies and an MSRP of under $200, the Sony DSC-S600 is a terrific value, especially if you shoot a lot of indoor family events.

I'd wait for the DSLR(ALPHA) to come out

I would personally look at Canon and Nikon instead, the top two camera companies. That and the fact that Sony forces you to use their proprietary memory card format, that can only be used in their camera and cost more than standard SD.