Having seen lots of sample images, I have to say that while the S10 module looks good as lower ISO's, the G12 and XZ-1 are much better as the ISO's go higher. I was considering this module myself until I saw that the GRD III does much better at higher ISO's than the S10 module, even though they use the same sensor. The XZ-1 also has the advantage of a faster lens, meaning that you can use lower ISO's to achieve the same shutter speeds in darker conditions.
Of course, it depends on what you find acceptable. I'm a stickler for IQ so my choices are heavily influenced by it. I shoot a lot in ambient light and hardly ever use flash if I can help it, so a fast lens and good high ISO quality is important to me.