It looks to do what it should
The new firmware for the Canon EOS M will be coming soon, and there's now a video out there comparing the performance differences between 1.0.6 and 2.0.2 (which may not be the final version).
I like the EOS M a lot, especially with the EF-M 22mm f/2 STM, however the AF performance of the camera has really given it a bad name. While I don't think it's any worse than a G15 in real world use, that's definitely not good enough for a DSLR replacement/companion camera.
Below are a couple of videos showing off the performance
First with firmware 1.0.6 (current)
Now with firmware 2.0.2
As you can see, the performance improvement is obvious in this one test.
Canon EOS M w/22mm f/2 STM $479 at B&H Photo