Now this is more like it. Looks like things are heating up in the mirrorless/high-end compact camera segment. Canon just announced its G1X and surprise surprise, it has a sensor that's almost as big as an APS-C sensor, though closer to Micro Four Thirds sensors, even slightly larger. It's a fixed lens camera with a 28-112mm equivalent lens that goes from f/2.8 to f/5.8. Not for low light fanatics, but not bad!
So this is Canon's answer to mirrorless cameras from Olympus, Panasonic, and Fuji, as well as Nikon's One system. Dpreview said it best, I think: "Nikon clearly decided such cameras didn't need large sensors, and now it appears Canon has concluded they don't need interchangeable lenses."'
This camera looks good on paper. More attractive to me than Nikon's V1 because this lens and sensor combo should give DSLR-like control of depth of field.
It's not cheap though at $800. You can get a Micro Four Thirds camera with kit lens for less. But it looks like Canon has finally put some real muscle behind their excellent G-series cameras. As usual, dpreview is first on the scene if you want to see more.