The following are now my personal feelings - I am a keen amateur and shoot in all types of situations - I am just a very average photographer that enjoys the hobby.
My thinking behind asking the original question:
I bought a G1 and EP-1 last February - prior to that I had used mainly Nikon/Canon SLRs and Nikon DSLR, (D300), and Canon P&S - plus a dying use of RF film, (M6 and M3). I have quite a lot of Nikkor, Canon and Pentax MF glass plus Leica, (the cheaper end), CV and Nikon RF glass.
After 6 months experience of using M43, one feature that I do now find important is that I want/need/would consider essential is a viewfinder on such a camera - I prefer an optical one.
- I like to use MF lenses - no more with the EP-1, only with the G1 and that is still not easy. The EP-1 is great for low light no flash shots and the jpeg engine produces great colours - but I find framing using the LCD uncomfortable. If I use MF lenses with the M43 format the G1 is fine tripod mounted with the use of the swivel screen. Also range focusing with the OVF is OK at the wider end. It is really annoying that there is no focus confirm on the G1 or EP1. I also find the controls on both the G1 and EP1 poor, (particularly on the EP1). The use of telephoto lenses on the M43 format is also poor - the Panny 20mm f1.7 and the Oly 20mm f2.8 are great and I now tend to stick with those two lenses on M43.
The controls on the D300 are great as is the use of Nikkor MF glass.
So to summarise my feelings from one standpoint.
I still prefer DSLRs, i.e. my D300, for most situation where the size does not get in the way, it is far more flexible, I find the image quality noticeably better and user control are very good.
Use of Nikkor MF glass is no problem on the D300. The FX D700 seems a bargain and I feel that it would be a good "family Christmas present" to me from my wife and kids, (now grown up) - so that suggestion will be made.
I enjoyed/enjoyed using the RF format and certainly prefer this to M43. I would like an M8 or M9 - and I am looking for a used M8 - now that I am retired I can see me buying a M9, (after a few more months of financial reflection).
I would like a "pocketable" cam with a VF - no I don't want to pay almost £200 for one that sticks out of the top - LX5 or Canon S95 SIZE would be great - but I suppose the only ones around are the Canon G series - so I think that is the way I would need.
So it would be:
a D700 - (I have lots of Nikkor MF lens plus more modern stuff)
an M9 - (or a used M8), again I have RF glass
A point and squirt with a VF
(retain my G1 for use with the 20mm f1.7 plus quite a few old SLR canon, pentax etc., lens that I have.)
As I said I am a keen amateur that enjoys the hobby and photographic interests and I fully appreciate my limited ability - I am not a good or professional photographer that get serious about the "art".
For the above reasons, I would not buy an X1 at £1,500 - I would go for a used M8 (or even a new D700)
Just my ramblings - thanks for all your comments on my original post
(PS: what I would say is that the M43 has helped me a lot - I joined the MU43.com Forum in February and I have learned so much over the last 6 months from people on that forum that it has really made the investment in M43 worthwhile, I am am really pleased that I discovered it - thanks Amin et al )