Timing
I measure both cycle times and shutter delay times, using a test system I designed and built for the purpose. (Crystal-controlled, with a resolution of 0.001 second.) Here are the numbers I collected for the Canon PowerShot S230:

I normally measure the actual power drain of cameras I test, in a variety of operating modes. I couldn't do this with the S230 though, because I didn't get the necessary power adapter with my eval unit. I was thus reduced to the simple expedient of operating the camera on a fully charged battery, and seeing when it finally ran out of juice. Using this rather simpleminded test method, I found that worst-case run time was well in excess of 90 minutes, a good level for a compact digicam. Even 90-100 minutes of total operating time isn't a very long time, when you're talking in terms of an all-day camera excursion. I'd thus strongly recommend that you purchase a spare battery along with the S230. Special LiIon cells that fit it are now made by both Maha Energy (sold under their PowerEx brand), and DigiPower, so you shouldn't have any trouble finding these in stores. (Check http://www.thomas-distributing.com/ for unusual digicam batteries, they sell packs for most digicams.)

Storage Capacity
The S230 stores its photos on CF (CompactFlash) memory cards, and a 16MB card is included with the camera. (I strongly recommend buying at least a 32MB card, preferably a 64MB one, to give yourself extra space for extended outings.) The chart below shows how many images can be stored on the included 16MB card at each size/quality setting.