David Adamson (see:
http://www.adamsoneditions.com/ http://www.dpandi.com/adamson/index.html) is digital printer for Robert Frank, Annie Liebovitz, Lee Friedlander, William Christenberry, Bruce Weber, Chuck Close to name a few. David says he is blown away by the quality of the M8 files printed at 30x40 and David has scanned and printed thousands of exhibition prints from every film and digital source going back to the beginning of digital printing. Here is a link to the discussion on the Leica forum:
http://www.leica-camera-user.com/digital-forum/9022-30-x-40-inch-m8-prints-9.html?highlight=30+40+print+epson#post99480
Heres is an anecdote he relates:
“Here is a picture from this morning of the photographer William Christenberry and artist Yankel Ginzberg at the studio, both after looking at my 30x40 M8 prints. Bill is a famous user of everything from brownies to 8x10 view cameras and his new book published by aperture was voted one of the four most important books of the year by Time. I asked him what he thought of the prints and his quote was " I thought I was looking at prints from an 8x10 neg" his next question was can I get one of these camera's now? “
Now before everyone freaks out and claims that he is saying that the M8 = 8x10 quality he was just relating an off the cuff remark from Christenberry about the quality of the print.
I have some experience in digital myself having worked on all the first production drum scanners, the first commercially available paint system (think ½ the functionality of photoshop for $1,000,000.). I owned one of the first prepress-retouching studios in NY to actually be profitable with a 100% digital workflow and counted L'oreal, Revlon, Cartier and Mercedes-Benz among my clients. My first DSLR was a Kodak/Canon monstrosity that cost $16,000 and produced 1.5MP files. I used Leica M's when I was working for a newspaper in the 70's and today I use Canon 1Ds and L lens for commercial work which is about 20% of my billing (design is the rest), it's been 5 years since I owned a Leica. So I have no ax to grind.
Yes the L lenses are great, the 135/2 is as good in its results as any lens that I have used in any format but Leica does make great glass and in some cases has an edge (wide, all the 50mm lenses) on Canon. I won't go in to value, whether filters are acceptable or not, or SLR versus RF, as what is value and ergonomic heaven for one is a nightmare for someone else. But as to image quality, I have had a look at the raw files and I have to agree with Adamson, Leica has produced a machine capable of producing first class images (assuming you have the fixes and the filters). That doesn't mean you should run out and buy it, but it's good enough that I'll be using a Leica again in the not to distant future for the first time in years. As to reproduction in web printed CMYK publications -by the time you screen it at 133 or 150 line screen a correctly prepared file (if the designer has not cropped out 1/2 the file) from an M8 would make a spectactular 2 page spread.