You know...at first I wrote this off- saw the pics, saw it had no viewfinder or control dials...but thing is, I've always had an eye out for a capable compact camera to be a good P&S companion to my primary DSLR kit. I currently have a Canon SD950IS for that, and while it is a great convenience as a second-shooter, I've always been disappointed with its IQ in less-than-ideal lighting. I've looked at the G1X (was disappointed with IQ, size and slowness)....but if it turns out that this new EOS M offers DSLR-type quality and AF responsiveness in its package, I might actually take a closer look at it...as a potential replacement for the 950IS.
The big negative is price, though...if it were, say, $599 it would be a LOT more tempting. It's quite a high price point so it'd better deliver on the IQ and the AF to be worthy.