If money's no object and performance is your top priority, a digital SLR yields the best photo quality and imaging controls of any type of digital camera. The combination of a large sensor, high-quality lenses that you can swap out to achieve a wide range of effects, great high-ISO performance in low light, and lightning-quick shutter response times make it the go-to camera for hobbyists and pro shooters. A DSLR is also the only type of camera that lets you frame shots using a through-the-lens optical viewfinder, meaning that what you'll see through the eyepiece is a true-to-life representation of your shot.

Though the prospect of using a DSLR can be intimidating for novice users, most modern models are outfitted with point-and-shoot-like features and LCD-based viewfinders to make the migration easier. Beyond user-friendly auto-exposure and scene modes, you also get room to grow as a photographer due to a DSLR's full range of manual controls.

The only major drawback to a DSLR is its size, which makes it a tough camera to bring anywhere you go. Price is also a major consideration, even after you spend an initial $700 to several-thousand dollars on the camera body alone. Additional lenses are a must when it comes to unleashing the full power of your DSLR, and they usually cost several hundred dollars a pop (at least). If you're interested in shooting video, make sure your DSLR supports it; these cameras capture stunning HD video, but only the newest DSLRs are video-capable.

Strengths: More-compact than a DSLR; excellent photo and video quality; no shutter lag; versatile interchangeable lenses; manual controls for exposure and focus