The S600 is pretty cheap, at "about $200" says Sony (scary that they don't know the price of their own camera). And it packs in some nice features - such as 6-megapixel resolution and a 2-inch LCD on the back. Previous Sony budget cams had smaller screens -- like puny 1.5-incher on the otherwise great little S40. In fact, I fell in love with the S40 when I reviewed it for Wired. It took gorgeous photos and was fast as hell. So with a bigger LCD, and some extra megapixels, the S60 sounds like a gem. Of course, you never know until you actually see the pictures.
Sony says that the S60 also has the curious ability to go up to ISO 1000 light sensitivity - way higher than most all pocket cams. The idea is to let you get photos without using the flash - which I sympathize with. I hate the interrogation-light look of camera flashes. I'm skeptical about any pocket cam that does ISO 1000, though. Most cameras start looking like pointillist paintings at around ISO 400. But who knows. Sony has surprised me in the past.
They also make a big deal about that camera's 3X zoom lens that goes out to 31mm in wide mode. (Human vision is equivalent to about a 50mm focal length.) Wide is good, especially for getting a picture of a lot of friends at a crowded party. But 31mm isn't radically wide. I've used lots of pocket cams that hover between 35 and 32mm (lower numbers are wider). That's pretty close.
The M2 really looks like fun. It's a replacement for the M1 camera, which looks like the love child of a cell phone and a video camcorder. I haven't used the M1, so I can't attest to the quality, but it sure looks cool. The big features are the same as the predecessor: Same basic shape, 5-megapixel resolution, 2.5-inch screen, and ability to capture video at 30 frames per second, with stereo audio.
One addition is Sony's Pocket Album feature (which first premiered in the DSC-N1). The camera automatically makes low-res copies of your photos (just big enough for the camera's LCD) and saves them in its internal memory so you have a little wallet of recent photos -- up to 1000. Nice.