AKcurly,
I can't stress the image stabilization strong enough.
Two points:
1) When shooting a magnified image, any camera shake during the shot becomes more apparent without IS, causing an unwanted blurred shot.
2) When shooting at lower light levels with an image 'noisy' camera (the small sensor of the 'point and shoot' type of camera really has a relatively low signal to noise ratio at ISO 200 and above), you'll find relatively long shutter speeds in order to capture a decent image. IS gives you that edge to capture moderate to low light shots when handholding.
IS won't give you miracles, but will give you noticeably better shots in a lot of cases.
If you don't get a camera with IS, better invest in a decent tripod.