Canon G9 replacement
It looks like a very nice camera, the XZ-1. Olympus cameras render especially nice cobalt blues, and the super macro mode on the xz-1 looks excellent too, as well as the other specifications such as the super fast lens.
After I sold my G9, I tested out a few premium compacts cameras (ex-1, lx3, g10) and a micro 4/3 system. I thought the premium compacts were all excellent and its difficult to pick between them. You really can't go wrong with whichever you choose IMO. I especially like the handling of the G series so I winded up keeping a G10. If I *had* to upgrade, I would upgrade to a g15.
M 4/3 cameras are really good value & a huge step up in IQ, especially the EPl-1/epl-2 / gf-1. You might consider one of these for the price too.
I have an Oly E-P1 but it's a little too bulky for a pocket camera and I know how much I use the G9 by comparison, simply because it's easier to keep with me. The G series cameras seem to have got much larger over the years and the prices have followed suit. As it is, they're out of my price range anyway.