micro Four Thirds camera, the Lumix DMC-G1. Panasonic calls it the "world's smallest and lightest digital interchangeable lens camera," a fancy of way of saying it's not a traditional DSLR nor is it a regular point and shoot -- it's something in between. Remember, the micro four-thirds format ditches the internal mirror and prism while maintaining a DSLR-sized sensor -- in this case, we're looking at a new flip-out, 3-inch, high resolution (1.44 million pixels!) Live viewfinder and a 12.1 megapixel Live MOS Sensor. That allows this cam to weigh in at 385-grams (0.85-pounds) and just 20-mm thick. Rounding out the specs are optical image stabilization (MEGA OIS), intelligent ISO, AF tracking, face detection, HDMI output, and intelligent scene selector with Venus Engine HD image processing and a Supersonic Wave Filter dust reduction system under the hood. Pricing will be announced in October. The cats over at dpreview have a preview model in house if you want a detailed first-look. Trust us, you should.
Update: In Japan, the G1 will go on sale on October 31st. The body alone is expected to cost ¥80,000 (about $750 tax inclusive) on up to ¥120,000 (about $1,200 tax inclusive) with bundled LUMIX G Vario 45-200mm F4-5.6 MEGA OIS lens.