This camera was announced back on 4th November and DPReview have a Press Release and a Hands-on Preview up about the camera. Prior to that there were many rumours around about what this model would have – a built in viewfinder for example.
However the reality is now a cut-down model, yes it has a superior sensor, a touch-screen and a better video mode but the essence of the original GF1 has been lost. Most of the original buyers wanted the direct controls that the GF1 had and not a menu-driven variety via a touch-screen. The camera is a bit of an oxymoron too; the model is smaller (supposedly a consumer requirement) but this is only with one of the two pancake lenses. A consumer would rather have a zoom at which point the camera+lens combination becomes too big?
When the Lumix GH2 was released it was hoped that the superior sensor of this camera would find its way into the GF2, but alas it did not.
We can only hope that a pro-version of the GF1’s replacement is also going to be released (the standard reduced DSLR shaped cameras after all now have 3 models – G2, G10 and GH2 – so there may be more models of the GF range a GFH1 maybe?
However that’s my opinion, feel free to comment if you agree or think that I am missing something.