I have a Canon 50D and three "L" lenses. By the time I pack up my camera and lenses and flash my kit bag weighs a ton. The bag is not fun to drag around. I have a Leica M8 and four lenses. Though that bag is not as big as my DSLR bag, I still find myself worrying about all of the "stuff" that I am carrying.
So last night I went to my 45th high school reunion. (Everyone looked so old. ) I carried my GF-1. No extra lens . . . No bag . . . No flash . . . and I actually enjoyed myself. There is something liberating about a small camera. I found myself taking more pictures. Maybe this is the way to go? (Now if my 20mm lens would just come in. )