Anyone buying this should be made aware, as with a lot of products today, this is basically a re-badged something else, in this case a Panasonic Lumix LX-2, a pretty good camera in it's own right. The differences are apparently largely cosmetic and badge factor is involved, hence the price difference. The Leica allegedly has different firmware, which deals with noise differently, and there is the badge factor. Personally I think the Leica looks better, and the red button means it will make a better resale price if and when you want to upgrade it, which is worth considering, but to all intents and purposes they are pretty much the same item except for the price, having said that, given the price differential and my brand adherence I'd probably choose this, fool that I am.