I don't plan on buying this version. It doesn't make any sense to me other than as yet another P&S and, in that light, I'd probably buy one before a G1 X.
The EF adapter is really odd for a camera with no viewfinder or even an option of an add-on viewfinder. By the time you add the adapter plus an EF lens, it would be very unbalanced with most of the lenses and certainly awkward to hold out in front of you to shoot with. If you're wagging a tripod with you, you might as well have a normal DSLR. A T4i makes more sense to me if lightweight is you goal.
The first EOS M is more of a step up for people that have progressed to the point of wanting better image quality than their cell phone can deliver...
