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Yeah, and even most pros can take just-as-good photos with lower-quality glass, to be honest.
I'm sure others have them as well, but for my Nikon camera I've been eyeing quite a few nice lenses made by a different company for Nikon bodies -- and are a lot cheaper than Nikon lenses. They are lower-quality, of course, but they're still good enough.
I'm pretty sure you're wrong about point and shoots having APS-C sensors, though. They all seem to have very small sensors. A larger sensor will receive more light per shot, so should naturally grab more detail.
Most don't, sure, but some do -- and still suck, because sensor size just doesn't make much of a difference at all. A smaller sensor has almost no bearing on how much light reaches it -- you simply have to have your lens focusing the light onto a smaller area, which is plenty doable with quality glass -- yet another thing point-and-shoots lack.