A couple things intrigue me about this camera and the Nikon 1 system.
At first I wrote it all off as a flop. Small sensor, not particularly good performance, etc.
As they have developed the camera and the system, I am noticing a trend - they are less concerned with IQ and more with speed. This latest revision only confirms that. The other thing I really like about this camera, is there is a removable grip. So it's pocketable one minute if you're just out on a stroll, but if you know you will be using full sized lenses with it, add the grip and you get a better located shutter release, another function button, and a function wheel. And, there's a removable EVF.
I wish the EOS M did that. One minute you have a smallish, point and shoot sized camera, but you add an accessory or two and you have a very capable mirrorless camera that's ergonomically and functionally much better than a P+S, that takes all your real lenses. And it shoots 20fps!
The sensor is still the one thing that bugs me the most. It's not even m43 sized. It's TINY. If Canon were able to do this with an APSC sensor it would be an incredibly impressive camera.