A wonderful camera permanently attached to a totally uninteresting lens. 4x zoom is fine, if it were 25-100 equivalent at f2-f2.8. Yes, that would be a large lens, but it would be worth it.
I applaud Canon for a large-sensor compact, and I hope they'll be doing more interesting things with that sensor in the future. But this camera... pass.
I'll be over in the corner drooling over the X-Pro1.