Then (particularly at higher ISO than 80) the default Noise Reduction gave detail smearing that would cause problems with those large prints again. So that was reduced to -2 as well, and limit the ISO to what gives decent results without needing noise reduction in post process. In the case of the LX3 that was 80-200 range, maybe 80-400 for the LX5.
For JPEGs straight out of the camera and with all four parameters in STD FILM set to -2: In the case of the LX5 it is between ISO 80 to 640/800. The amount of noise at around ISO 800 on the LX5 is near about the amount of noise at ISO 400 on the LX3. That said, I'm being conservative here. In some cases, depending on the contrast of the scene, the LX5 can go even a bit higher up to ISO 1000... making the LX5 approximately a full stop to 1.5 stops better at processing noise in camera than the LX3.
That was JPEG output mentioned above. RAW output will be even easier to post-process for obtaining more detailed results.
Guy... with the lower X'mas pricing, if would benefit you if you bought an LX5 to discover all these benefits (accompanied with its peculiarities) for yourself. If you shoot RAW, am pretty sure you will be convinced that the LX5 is better than the LX3 in a number of ways!
At about USD $375 the LX5 will most probably be nearly bottoming out on the price front. I don't think it will fall lower than this. It is available at USD $399 at many online retailers already now. That way if you really do like the LX5, you can sell your LX3 for nearly the same price! Like a one-for-one exchange without much additional top up in case you decide to change cameras!
In case you missed this thread earlier... have a good look at the first few photographs at the top of the first page. The results declared subsequently are quite interesting!
http://forums.dpreview.com/forums/readflat.asp?forum=1033&message=36248092
In case you haven't already, also look at...
http://forums.dpreview.com/forums/readflat.asp?forum=1033&message=36301914
It was the images in these two threads that ultimately convinced me to try out the LX5... in spite of everything I read in the forums earlier!
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