This looks perfect for diving with a nice underwater housing. Much smaller than a DSLR with housing but a much larger sensor than current P&S options. Can't wait.
The difference in size between the G12 and the G1X is much less than I expected.
The main difference is in how much the closed lens juts out, but it's a small price to pay for the extra IQ and high ISO.
Might have to get one now for the glovebox!