there are a many models of actual dslr cameras that are based on the 4/3 format sensor. and as previously mentioned there are sigma, samsung, and nikon compact cameras that have the larger than 4/3rd sensor already jammed into a small body (results are still suspect as an overall package though).
what sony failed to realize is that for the the engineering in jammed into the camera, its still about trying to please the enthusiasts not the 'INTELLIGENT AUTO ALWAYS ON" crowd.
it would of been just as easy/impressive to put small physical knobs to adjust shooting modes, shutter speed, ect so you could have instant access to manual controls.
its the whole reason cameras like the lumix lx3/canon G11/canon s90/ect are so popular: although they are sensor wise small and can be slow... they offer instant access to fully manual operation.
the trends are that people who want and easy camera to use will just buy a point and shoot.. and the true iconic best sellers will still some have some sort of direct manual knob and button access to fully manual controls.
Quote:
Originally Posted by
Pezzaturra 
I think most posters here don't realize that this is not just smaller camera. It is camera with full DSLR sensor=good low light performance without the flash and an overall performance far beyond that of micro thirds four.
If specs and reviews are right this would be the first compact digital camera with a DSLR level of performance.
Those who like their hands to be filled with large hard objects might be ultimately disappointed, but to me it sounds like a perfect combo of compact metal-body camera with a full size sensor and lens.