so i should be getting it in about a week and a half. i'll let you know some preliminary impressions once it arrives. in some ways i had hoped they would announce a successor by now, but then what's the point--it wouldn't be obtainable for 6 months anyway.
i need to have a small camera like this for several reasons. one, it's prudent for backup when i am traveling. two, sometimes you need a truly silent shutter. three, i often hand my camera to people, especially in indonesia, who are curious about it and what i am doing, and let them shoot with it. this works much better with a ps than with my 5d2, or the m9 (and yes, i've tried with both). and finally, though i think this reason is frequently overstated, there really are situations where it may not be safe to pull out the big camera.
as to whether one can make good street photos with a ps: have a look at the gallery here:
http://seeingsubjects.org/anjal_surabaya_street_kids_photos/photos.html
those are photos taken by indonesian street kids, mostly ages 7-12, with a canon a-70, a positively primitive (and absolutely fabulous) little 3mp ps. they have been internationally exhibited to considerable acclaim at full-bleed 16x20 inch print sizes; many of the pro photogs who attended the shows thought i was lying about the camera used, since the prints looked better than 35mm film.
now, obviously those were made under certain restrictions; i kept the iso at the base level, and let them use slow-synch flash for the night shots. but the daylight shots are technically comparable to what one would have gotten from a 35mm camera loaded with iso100 print film. and with any photo project, you have to choose a set of limitations. the current choices, i think, are not at all bad.
i've used a couple of digicams since then; i am getting the lx3 now because my more recent canon powershot just died. from all indications, including various people's posts here on the weekly thread, the lx3 is about as capable even in low light as any available film camera from the 70's, only smaller and cheaper. what's not to like?
ah yes, the viewfinder. well, as you point out, none of the currently available compact cameras have a decent vf build in. but, the lx3 (which is identical to, but $300 cheaper than, the leica version) takes a very nice optical vf with 24mm-equv framelines; in many respects, such a finder is better than the ones on slrs (brighter, and lets you see outside the framelines so you can anticipate and adjust more effectively). so, set the camera to a known focus distance, maybe 4 feet, and a moderate aperture, maybe 5.6, and you've got a very quick, small, unobtrusive, silent camera with fine iq that will easily hold focus from 3 feet to ~ 10 feet (or whatever, i will work that out when it arrives).
i hope.
obviously, the more one is interested in telephoto, the quicker this little slice of heaven dissolves into sand. but i expect i will use it mostly at the shorter end anyway.
personally, i would rather use a camera like this, than downgrade from a better prosumer dslr to a rebel. i think in that case, you can probably get better results from a shift in attitude than from a change in camera. sure, it does make a difference what camera you point at people, but between a rebel and, say, a 40d/7d/5d... not much difference. so in for a penny, in for a pound, would be my attitude in that case.
