There's just enough time to mortgage the house in anticipation of the new Leica models.

Once you put a monster lens on The new Panasonic, what's the advantage of the body being so small? Yes, I suppose new lenses using the new "Micro 4/3" standard will be smaller. But changing lenses on any camera sucks, and on a small camera it's likely most people would want to stick with a single more versatile lens.

Then you also add a significant bulk with the optional viewfinder. The body itself doesn't seem that small in the sample hand-holding images at DPReview either.

It might make an interesting alternative to the Canon G series for some people, but I think this is going to be an ultra-niche product. I also can't respect a press release without a price. Bad show Panasonic, bad.