It sounds like they want to have a system, not just a camera, like the Oly or Panasonic wing of m43, like Nex, like, to a lesser extent for now, the little Nikon ILC. So I could see them having a few different models, from near SLR to relatively compact, with varying degrees of features at different price levels, all using the same lenses. If they're really gonna do zooms and ultra-wides, for example, an EVF only model seems like something they'd do pretty well with - I think there have GOT to be some pretty real limits to what you can do with the hybrid viewfinder. If they do, if the IQ is basically the same though the line, and if they develop a good range of lenses, this could be a real winner.
But since we haven't even seen the first product in the hands of real users yet, we really have no idea what they'll get right and wrong initially and how it'll have to evolve. I'm sure the initial offering will have some real strengths and leave a lot to be desired, but look at the first offerings from both Oly and Pany in the m43 launch. Nice cameras in their own right, but neither is even remotely competitive with what they're producing 2-3 years later... If they really develop this sytem and its as good as it looks like it might be, I could see replacing most of my m43 gear with this and just keeping one small m43 and one or two specialty lenses. Since I love the EPL3's flip up screen with the 12 and 14 for street shooting, I could keep that much. And maybe the 14-150 because I have trouble seeing Fuji coming out with anything similar in anything like as compact a package for an APS sensor. But I could see moving the three primes and something at the ultra-wide end over to Fuji pretty easily of the IQ and low light on this thing is as good as it should be. And if the AF is even pretty good. But its early days - we'll have to see.
BTW, I'd feel the same way about Nex, maybe even more so, if they'd work out some good smaller lenses. I don't need truly tiny but I'd MUCH sooner see myself walking around with a bigger Fuji body with the lenses they're starting off with than a smaller body and a lens the size of the Zeiss 24. Just personal preference, but a fairly strong one.
-Ray