Thanks for the reply, scorpio_fish. I found your reasoning to be sound, but after much struggle I've formulated a baffling response:
First, I'd only like to consider the case of the SLR and dSLR sharing the the same lens configuration. I think once you follow my reasoning, you can extend the results to include P&S cameras in your head. I'd like to add that I'm basing my explanation on information I'm getting from very good articles here and here. The assumption is that we shoot a subject using identical composition with a film camera and a digital camera with a cropping factor. This was scorpio_fish's second example. Here are some definitions:
x: cropping factor of dSLR
c: circle of confusion
M: magnification
D: total depth of field (sum of front and back depth of field)
Ne: effective f-number (bellows corrected)
N: the uncorrected f-number (that's the one you think you're shooting***)
For the following, I quote the lens FAQ I referenced above:
When the object distance is small with respect to the hyperfocal distance, the front and rear depth of field are almost equal and depend only on the magnification and effective f-stop and the following approximate formulas can be used.
frontdepth = reardepth = Ne*c/M^2
I'm just going to state that we satisify the criteria because we do. I also use the equation for computing effective f-number:
Ne = N * (1 + M)
yielding
D = 2 * N * (1 + M) * c / M^2
Calling the film camera 1 and the dSLR 2:
c2 = c1 / x
M2 = M1 /x
These are geometric relationships already defined by scorpio_fish.
What we are interested in is the ratio of depth of fields, or D2 / D1. That turns out with some chugging to be:
D2 / D1 = (x + M1) / (1 + M1)
What does that say? First off, a difference in DOF exists. It is independent of aperture or focal length, and as magnification increases, the DOF becomes nearly the same. Now I don't know about you, but for me DOF is most problematic at higher magnifications. That's not to say there's no difference. Shooting at a film equivalent of 1:1, a D100 or S2 has a 25% DOF advantage and the D60 has 30%. Not too shabby, or is it? Turns out there's more to it than that. So here's my second point.
Smaller sensors require a smaller circle of confusion, c, relative to larger sensors. Scorpio_fish points that out himself (itself?). This not only makes them more sensitive to focus but also to diffraction. We all know this because maximum apertures for P&S cameras are much bigger than for 35mm SLRs. The end result is the Lord giveth and the Lord taketh away. Sure you get a boost in DOF with the smaller sensor, but you have to give it back by opening your aperture. If you are running larger apertures than optimum, then you get more DOF but you obviously don't care or you have lighting issues.
This gets back to my original statement. DOF is dictated by the wavelength of light and mother nature is a firm governess. If you were tasked to design a system that maximized DOF, sensor size would not be a variable you would care much about. If it were me, I'd specify a 1-pixel sensor and be done, but then I'd probably be fired.
There are some real hardware ramifications. First, us cropped dSLR shooters may need to use a larger aperture than the equivalent film cameras would use. This is due to the expectation of greater critical focus. Second, there are real differences in specific cameras and lenses that lead to real, observable performance advantanges for some rigs. That shouldn't be suprising but it's also not proof. There is no such thing as f/16.935 on my lens even if the equations says that's what I should use.
In scorpio_fish's examples, he used parameters that produced effective magnifications modest enough to show significant differences. I believe he's right although I didn't get out the calculator. His numbers didn't include the effects of diffraction. At f/8 diffraction isn't the issue, but he was also producing pretty good DOF numbers for subjects a meter away. When was the last time you heard people complaining that 1 foot of DOF for a subject 3 feet away wasn't good enough but they couldn't go to f/11? This is just not the range where it matters. In scorpio_fish's defense, he never said it did.
I hope this is helpful and I hope I'm right! Scorpio-fish was right, I'm right, I'm King of the Hill, so come knock me off!