1. MOST REALISTIC (general theme: "don't fix it if it ain't broken")
Sensor: 1/1.63" primary-color CCD with 10.01 million effective pixels (larger than GRD II and similar to LX3 in terms of size and optimization of photodiodes)
Lens: Same as GRD I and II (a proven performer)
Focus (the most critical feature which they got right in the GRD I but screwed up in the II). Hybrid AF with CCD method and external autofocus sensor (active or passive).
Processor: GR Engine III which has dual buffer so that processing of images never interferes with capture of images (which happens with GRD-II if you wait just a second after capturing an image). At least 2 fps in continuous mode with instant review with each shot.
Flash Sync: Up to 1/2000 sec no matter what mode you are in
ISO sensitivity: ISO 80-ISO 3200 (3200 available due to optimization of photodiodes)
Noise Reduction: Off (really means none as opposed to minimal), Low, Normal, High. ISO's below 200 should not have ANY NR applied, even in JPG. I'm tired of plastic looking JPG images. User should be able to program what he really wants.
Flash: Improved fill-flash with onboard flash.
LCD: Same as GRD-II but 3.0 inch okay as long as it does not affect structural integrity of body
2. MOST REVOLUTIONARY (but with practical applications):
Almost same as above but with following changes:
Sensor: 4/3 sensor w/ 12.3 million effective megapixels. Choice of Bayer filter or no filter for sharper B&W only images
Lens: f/2.0 max aperture, 28mm equivalent on 35mm frame
Viewfinder: VF-3 with augmented reality overlay (camera settings displayed inside optical finder frame)
ISO sensitivity: ISO 80-6400
Processor: GR Engine III which allows for 3 fps in continous mode with instant review after each shot.
Accessories: Wireless IR remote
Additional auxiliary lenses (16mm ultra-wide, 85mm portrait, 120mm tele, 300mm super tele) making this same as an interchangeable lens camera but without risk of dust on sensor
3. MOST REVOLTING:
Sensor: 1/1.8" sensor with 12.3 million effective megapixels (don't increase megapixels unless you do something to optimize photodiode layout or increase size of sensor)
Lens: 24-85mm f/2.8-4 (no variable aperture zoom in an effort to please the masses! Build for professionals and make having a professional level camera appeal to the masses.)
Viewfinder: full EVF or integrated Galilean viewfinder (no pixels in my viewfinder please and no tiny, tunnel vision finder)
Processor: GR Engine III which unecessarily "smoothes" low ISO images to mask the sensor which has been crammed with too many megapixels for its size (no thank you!). Slow 1.2 fps with single buffer.
Focus: Same CCD method AF with over .3 sec AF lag and no option for shutter release priority (which is what current GRD II has)
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http://fotogenetic.dearingfilm.com
http://www.flickr.com/photos/fotogenetic/