I'm with Nick on this. I have a lot of really nice lenses. What I want is a platform to slap them on. The recent Pentax Q, Nikon V1 etc. are less than interesting to me because my current lenses will mostly be galumphing beasts on those tiny boxes. The promised Fuji X1 is more interesting, as I can see a Canon 50 LTM (or a Leica, or C/V) on there in my mind's eye pretty easily. But then we get to controls, and there is only so much miniaturization that a hand-held device can take before a user with average hands can't manage it. So I actually answer Nick's question on the NEX in the affirmative: yes, the NEX is a pain. Not because of the form factor per se, but because the form factor has left the designer very little real estate to put the controls. The genius of traditional Leica and Nikon body design, for me, is that the controls fall _very_ easily to hand. Really, no thinking required. Maybe this is just another way of saying that I am used to them. But certain tools have reached good design holding patterns: hammers, bicycles, kitchen knives -- they haven't really changed their basic forms in 100 years. You will know that the current digital revolution has reached its interface-design plateau when the "haptics" -- the hand-feel -- for cameras stabilizes again.
I think Thom's point though was about image quality. And in that realm, I think we are "there." Now if we could just get a design genius to make the box that the imaging chips will be held in, we'd be set. Until we figure out how to get the chips implanted in our heads and run the user interface subvocally. ;-)