Not having a camera is the usual reason for missed opportunities. This is why I have given up on SLRs and moved to a small(ish) pocket camera - albeit with full manual controls when you want them.
During 35mm days I had SLRs with multiple lenses and carried the whole lot up mountains, on cycling trips, on expeditions, backpacking trips etc. Eventually I thought about the weight and started thinking about what else I could take instead. When you have to carry all of this on your back up a mountain or in cycle panniers up Glenshee together with camping gear and food to eat the weight really matters. Even if you're just going for a short walk here and there the bulk can be offputting. Result? I ended up not taking the camera everywhere. Missed opportunities.
On conversion to digital I was well aware of the trade-off in quality by using a pocket camera but thought it would be OK as long as I took it to more places. These days I do more motorcycle touring than anything else so one of the weather proof, shock proof compacts is ideal. It can sit in a pocket in the bike's fairing - doesn't matter if it rains and gets wet and it can rattle around/ tolerate vibration without getting damaged. When I get off the bike it will easily slide into a jeans front pocket. Result? I usually have my camera with me when I want it.
The only downside to me of these cameras is the lack of manual override so I have also purchased one of the few compacts available with ful manual override. A little bigger but still very small and is not something that you tend to think "Oh it's too big and heavy, I'll not take it".
Personal compromise: I'm not trying to produce mega-sized blow-ups, I just want reasonable photos I can look at and share with family & friends and I'd rather have more than less even if a small price is paid in the quality department.
Sorry for the rant but the thread title interested me
