if you're going to Europe I'd say bring your dslr along.
for short/fun trips with friends to nearby places, say genting, I carry just my point and shoot. purpose of the trip is more about friends, more about having and and relaxing. plus personally I think there's not much that I'll want to shoot over there. so a point and shoot will suffice.
but for your case if you're going to Europe I'll definitely suggest bringing your dslr. I have a friend who went to Europe at the end of last year with his point and shoot (he has no dslr), and he came back making noise about not having a dslr to take nicer pictures. he showed me his pictures (almost a thousand shots) - the streets, buildings (even the interior!) and architecture in Europe are just beautiful, somthing you don't see in singapore. of course a compact camera takes nice pictures too, but personally I think a dslr would be worth the weight.
of course carrying a dslr around every day means you got to be more hardworking! :bsmilie: I went to sichuan last year to do community service. my friends in the group brought their point and shoot but I brought my dslr (partly also because I was the appointed photographer for the trip). it was really heavy load for me throughout the entire day (a day typically starts at 8am and ends at 9/10pm), but I never regretted a single bit. the shots I managed - streets of sichuan after the earthquake, quite a fair bit of nice scenery, local children celebrating children's day, etc. really made me felt that all that effort and weight was worth.
but one thing is you can do is to try keep your gear light. I brought a general zoom and primes along. after a few days I left the primes in my luggage back in the hotel while I carried my D300 + tamron 17-50 2.8 out. oh also remember to carry enough (if not more) batteries and memory cards. I rotated between 2 batteries and had 20gb of CF cards so no issues throughout the trip.
have fun! :bsmilie: