Thoughtful post Jonathan.Hi Ray
Interesting post - and pretty much a reflection of my thoughts.
But if you start thinking of the Nex7 as a 24mp digital back with an excellent sensor which will take pretty much every lens ever made . . . an with some of them will fit in your pocket - suddenly it sounds much more attractive.
My logical side agrees that m43 actually offers a much better size/price/quality return . . . . but if you start thinking of the NEX7 as modular .. Forget the X100 - I know how fond lots of people are (for good reason) but a fixed focal length compact is not the same thing at all.
I will almost certainly get a NEX7, but I suspect I won't like it as much as my EP3, which is becoming more and more of a favourite.
The Nex 7 ticks a lot of boxes for me. I think that the price is a bit steep, but for what you get and the likely sales volume I don't think it's way over the top. It is likely to be a very effective camera.
For my landscape photography it might be just right with some carefully chosen lenses.
But it could not, I think, be my only camera.