I also made a final decision to hold off on buying an EOS M. One of the reasons I own a camera is to take pictures of my son and it's just not going to work for that. I am actually saddened. Here's hoping for that firmware update or I'll be waiting and hoping that the second generation will have improved af speed.
I'm glad you are liking yours, though wickidwombat.
My main interest in the EOS M has been as a replacement for my G11, which is starting to show wear and tear. After playing around with it in a store, my current feeling is that I want to wait a few months until Canon announces the next EOS M body - hopefully with an EVF - for an interchangeable lens camera, I really do want a viewfinder. - I can accept that an EVF will make it slightly bigger, but that is a price I am prepared to pay.
I found the tap-to-shoot functionality novel, but slightly awkward. I struggled a little to hold the camera and leave one hand free to tap with.
In all fairness, considering the target market for this camera (P&S upgraders) it doesn't seem bad. It isn't targeted at someone who has been using a SLR in manual mode however. Unfortunately, enthusiasts are probably in the minority.