I'm not really the right person to ask. My current travel camera kit would consist of two or three camera bodies and at least six lenses across two different systems. Travelling is a reason for me to take the best kit I have available, not a reason to leave it behind.
To give an opinion on the G1X and LX5 however; if the G1X works exactly like the G-series cameras before it but with the benefits of a larger sensor, and if the lens is up to the task (I have seen some examples for pre-production models showing that it softens noticably in the corners), I would choose it. However, further to my first paragraph, I would still then still have a hard time choosing a G1X over at least a small (1 body, 2-3 lens) Micro 4/3 kit.