After using Dlux3 and Dlux4 for some time I bought a M43 EP2 last January, which immediately started to become my favorite high quality compact (I shoot only RAW even with that type of camera).
I tried the NEX5 last summer, but even as this camera is very small and IQ is pretty ok, I do not like it and will give it to one of my kids.
I bought the GH2 some weeks ago and this camera is not really a compact, but it is the first more serious DSLR (EVF based) I started to take always with me on business travel, because it is so nice and small even with kit lens and has not much weight.
I think that M43 has a huge potential here and maybe if a GF3 with the GH2 sensor (or however this one will be called) comes to market, I will take this one as my favorite compact.
So another big vote for M43!