The R1 is not a suitable replacement for my needs. I am a professional photographer and need the ability to change lenses to get the effect I want. I also need to be able to shoot with a large aperture in low light situations or when I want a very shallow DOF. My lens will also depend on the subject. Am I shooting a head & shoulders shot or photographing a close-up of Billy half-way down the soccer field? I need to be able to do it all. KWIM?
You all know what I'm talking about. Even if I was just shooting for myself I would have a DSLR for the capabilites it gives me. It's so fun! Nothing wrong with P&S. It's just not what I need and it's not the type of equipment I would enjoy using now.
I have no doubt you can get great images from the R1. My first digital was the Minolta 7i and it was great. It was just limiting. (No buffer, slow to write RAW files to card, no sync port, view finder was terrible, couldn't save custom settings, fixed lens so I couldn't shoot wide open on the long end, I couldn't get the shallow DOF I wanted, etc.)
I've already switched to Nikon. I was preparing to make the change before they announced they were selling to Sony, but I had been waiting to see if they were going to come out with a new body with more MP when they made the announcement of the sale. I had no problems with the 7D, it's just that I needed a higher resolution when I photographed groups that needed large prints. I wanted more detail in the images. I also wanted more leeway if I decided to crop into an image and then print large. (Frankly, I prefer the 7D over the D200's, but I had to upgrade.)
So for them to exchange my DSLR with a P&S is just worthless. I couldn't resell it for anything, and I have no use for it. I had planned on keeping the camera to use for personal stuff.