MFT has it's advantage on the weight, size, still the manual control and the picture quality.
fstopx2: I am not sold on this. I had the prior GF1 and ended up very disappointed with it. Prior to this I had owned a Canon 10D and a G9 that took great pictures till the day the lens jammed open.
The GF1 took nice pictures WHEN you could see the LCD. This was my first camera that didnt have a viewfinder and I quickly discovered that it sucked in extremely bright sunlight like on a summer day.
I had the addon viewfinder from Panasonic. That helped but it was annoying to put it on. It always felt like it was cheap plastic junk like it was going to break off. If you put on the zoom lens the camera is not at all pocketable. Sure its smaller than an equivalent SLR from Canon or Nikon but its not that much smaller.
After a bunch of sessions I became so annoyed with it I sold the whole mess on Ebay for very close to what I paid for it. I went back to Canon and bought a Rebel T2I that is far easier to use with a real viewfinder and is only marginally larger and heavier.
A MFT with a zoom lens is still smaller, and so much lighter than a DSLR with a similar range zoom lens. As you said, a MFT with a zoom lens might not be so portable/pocketable, but still a huge difference especially when you need to walk around with it.
I am really excited about the GX1. It has most of the things that I want, except the missing viewfinder. Though I can probably live with it as there is the LVF2 as an accessory purchase. Can't wait for the actual camera gets in stock here. Will pair up with a 20mm pancake lens and wait patiently for the who knows when will be here 12-35.
Does this lens has constant aperture?
I like how the new X series lens is lighter and smaller, but hate it for no focus ring. It's a love and hate thing to me.
Am I being too crazy if I am going to pick up this GX1 and the 14-42 X series lens to replace my Canon T1i + Tokina 11-16 + Canon 28-105??
I do care about the picture quality but the weight of a camera/lens is also a huge factor when thinking about this.