Have had quite a few cameras come through my hands in the last few years. Size and portability is important to me since I love 2-3 week international touring. For that reason the 5DMKII and a ten pound bag of mostly L and DO glass stays home. Tried the GF-1 .. had the 20mm, the 14-45, the 45-200 and the 7-14 + the EVF, the full load basically. Took the setup to South Africa and on Safaris for 17 days.
Let's start with the positives in my opinion, others may vary. The size, ...ahhhh, did I say the size? The 20mm is fast, ... so is the lens on the little S90, the 14-45 is sharp... so is the G10. Notice the comparison is to compact point and shoots. The dynamic range and ISO handling is a bit better than the G10 was, but I can shoot the S90 at ISO1600 and would not push the GF-1 past ISO800. When you are trying to get that lion's image at 400 mm effective, with Lumix image stabilization and a real slow lens life isn't as easy as it could be. The four lens kit covered 14-400 mm.
The T2i is a little (200 gr) heavier than the GF-1, does not have suffer that kind of pathetic viewfinder, has a greatly expanded dynamic range, better ISO handling by far, 4 frames per second against maybe 1, WB and EC bracketing, greatky enhanced movie capabilities and a full and real line up of lenses to use it with. The T2i is a steal..... it is a lighter, much less expensive, slighly less capable little brother to the 7D. I think dpreview said 75% of the performance at less than 50% of the price.
I sold all my GF-1 gear, every bit of it. Many thanks for eBay. With the proceeds I bought a GF-1 kit with the 17-55, which in current form is supposed to be excellent, but is range limited for what I like to do so I sold the 17-55 new out of the box and replaced it with the 15-85 and 10-22. Had enough money left over to buy a second battery and two primo Sandisk 32 gb Pro Extreme cards. Borrowing the 70-300 DO (a travel oriented lens) froim the 5DMKII kit I have a three lens travel set 10-22, 15-85 and 70-300 that has an effectiove comparative range of 16-480 mm, much better image stabilization and 50% more resolution at 18 mega vs. 12. and am back to the Canon colors I love rather than the lumix rendition of reds and grass.
If you want a toy to slip in your pocket get the Lumix.
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http://www.martindareff.com
Hoi An Vietnam Old City