I subscribe everything gene_can_sing said up there
except unlike him I'm not heavily invested in the canon system: most of what I use is adapted vintage glass
which leads me to a big downsie of the PL mount: there's amazing glass for it, but the price is too high, and there's not much cheap glass that you can adapt to a PL mount (because of its long focal flange distance: 52mm, longer than that of leica R, nikon F, olympus OM, Y/C, M42, pentax K, and canon EF)
apart from this, and going back to the main topic: epic fail by canon, mid 2012 is 18 months too late; of course it could be an amazing camera and take the world over by storm, but really, couldn't they have offered a not-so-great big sensor camcorder in the meantime? considering how long it takes to develop a new sensor, maybe not, but probably only because they took ages to start the race, seen how both sony and panasonic beat them by over a year