The original price of the G1X was indeed silly. I would also have preferred a 3:2 sensor and the ability to tether it to my computer. For the high price, lots of features were missing. Although I like a swivel screen, it mostly goes unused where a touch screen would get a lot of use.
I managed to snag mine during one of the special Adorama sales with free printer, Adobe Software, and a $400 rebate. I sold the printer, and the software, and used the Amex card at Costco until it was used up.
I figured that my end cost was $150, which was quite reasonable. Then I sold my old G11, and ended up getting cash back for the upgrade. I'll probably never see a deal like that again.