The crop factor doesn't bother me that much. They kept the pixel count at 10mp so I would have expected on a sensor that is 4x larger than an LX5/XZ-1 that they would be able to get really good high ISO results. The camera only goes to 3200 with 6400 as Hi extended ISO.
So, the limited pixel count/ISO is the surprise for me.
On the upside the lower pixel count does allow for fast processing and the feature set seems to indicate that with a number of different high speed options in movies and stills. The lower end model only has an electronic shutter and the higher end has both electronic and mechanical (allowing for fast shutter speeds or different flash synch speeds).
I'm surprised that they didn't get a fast portrait prime out there right away to make a mark on the more advanced users.....or at least a lens that would be really enticing.
Buffer depth is impressive and something I do hit up against in m4/3:
At maximum resolution, buffer depth with a mechanical shutter is rated at 42 frames in raw+JPEG Fine mode, 44 frames in raw mode, and 58 frames in JPEG mode. Buffer depths using the electronic shutter aren't yet available.
Anyone notice from the pictures how square the LCD looks on the back....the camera is a 3:2 aspect ratio so I wonder how much screen real estate is compromised....aslo the LCD has a lot lower resolution than the EVF and seems a little lackluster given todays newest screens. Edit - whoops that LCD spec is for the lower end model not the high end model which is 921K and makes a lot more sense.
Edit- I just tried to watch the "motion" samples. Not quite sure I know how it works or how manipulated the samples are. For instance there is a woman kicking a soccer ball. You see the kick and then there is a still. The still isn't really from the sequence but don't know what sort of post processing was done to get the music and still portion. Samples are here:
http://www.imaging-resource.com/NEWS/1316578774.html