That's what I'm thinking. I mean, if you didn't buy it for Yellowstone, what DID you buy it for?
Baz,
Of course, I know my DSLR gear is technically superior even to an LX3. I've taken it with me on all of our vacations in the last five years and gotten some good shots. But I did NOT buy my expensive DSLR gear for Yellowstone. My current kit (several bodies and a good collection of terrific prime lenses) was acquired for my portrait and wedding/event practice.
And I'm by no means abandoning my DSLR equipment! Not at all.
So I think some of your premises are mistaken. Nevertheless, I do understand your question, so let me try to give my answer.
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My starting point is that the photos I've taken with my LX3 so far persuade me that the image quality is GOOD ENOUGH for my own personal needs, that the LX3 is good enough as a vacation camera. The DSLR provides a slew of advantages that I'm simply not going to forego when somebody else is paying me for the work. But if I ruin a few shots on vacation, nobody sues me. If the photos from the LX3 weren't good enough, then I would not be considering using it for much of anything.
That said, my DSLR kit brings with it a number of problems. I know these problems well, as I've taken my DSLRs on vacation for years. Those problems can be summarized as: bulk (= size and weight), potential expense (i.e. the cost of the equipment that I'm putting at risk when I take it on vacation), and inconvenience or extra work (especially in post-processing). The biggest problems are bulk and inconvenience.
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First, bulk. Now that I shoot almost exclusively with primes, I either have to resign myself to carrying a fairly large bag (awkward especially when camping, which I'll be doing in Yellowstone), or I have to resign myself to missing a lot of shots because I didn't bring the necessary lens. The latter would be easier for me, and it's what I've done in the past. I could for example take one DSLR body and my Pentax 21mm limited (= 32mm in full-frame terms). I could live with that. The Pentax 21mm is a pancake lens, or nearly, and if I removed the battery grip, the gear would be a lot more compact than, oh, taking body with grip plus a 70-300 or almost any other zoom lens.
But having a single prime lens with me on vacation is pretty limiting. I'm well aware that the great landscape photographers of the distant past often had a single focal length to work with, and their equipment was usually much bulkier than mine, indeed, almost inconceivably bulkier, as some of the early greats had to carry their darkrooms into the field with them as well as their cameras. (Boggles the mind.) But I am simply not that serious, not when I'm on vacation. I am largely an opportunistic shooter. I like to spend time with my family. So I don't leave them on their own for a day while I climb yonder hill to get the vantage point my 21mm lens requires for the shot. My wife and daughters are patient, and I will ask them to wait for me for a few minutes; but that's about it. So when I'm on vacation, I appreciate having a little flexibility about focal lengths and vantage points.
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For some time now, I've been wanting to buy a truly compact camera that I could basically carry everywhere with me. I found the LX3 at the end of a longish search. So now, I have a really compact camera, more compact even than my Pentax K20D with the 21mm pancake attached. I didn't purchase the LX3 for vacation use. I purchased it for daily use at home, for walking-around use. But now that I've got this wonderful LITTLE camera, well, it's blindingly obvious that it would be a nice thing to take on vacation.
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I might add at this point that, while size and weight are the principal problems with my DSLRs, another problem is that the photos I take with my DSLRs—always in raw—require processing on the computer afterwards. And I have discovered that the LX3's jpeg output is remarkably good. So another mark in the LX3's favor, at the moment, is the promise of taking really nice photos on vacation that do NOT require a lot of processing time on the computer when I get back home.
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When I'm on vacation and shooting landscapes or wildlife, I'm not competing with my work in the studio or at a wedding. I'm also not competing with the aces at National Geographic. Working with the compact cameras is a different kind of photography, with a different set of challenges. And to be honest, I'm excited about these new challenges.
I started taking photographs in the 1960s. I have reached the point where I'm pretty unromantic about equipment. I am not immune to the temptations of marketing—how I wish I were!—but I just don't look to my equipment for happiness. I look to the pictures.
And here, at the risk of patting myself on the back, I have never been especially romantic, or rather, I've never been especially technical in my demands. The LX3 will take photos more than good enough for my purposes.
Will