Compared with M8, briefly:
Pros: Cheap (half price of M8 in used market)
More like an analog RF, flippable LCD, easier operation
Lighter shutter sound (to my ears)
Better color redention and better high ISO performance, M8 images are more digital looking, closer to my 5D. R-D1 tone is close to RDP/RHP.
Cons: Less image quality, but not critical at all,
Shorter battery life
Less focusing accuracy, which the M8 is much better
1.53x v.s. 1.3x, and stronger vignetting
Slower card record speed and 2GB limit, not an issue for film RF users
Overall, I prefer the R-D1 over the M8, not to mention the 50% price tag, so
I sold the M8 and kept this one. I also sold quite a lot of Leica lenses, as the VC ones are equally good. Really, it is more about how you capture an image.
Hope this helps.
Dave
Wow! Most would consider this as an option when they can't afford the M8! Besides the raw engine, any other practical/user considerations/differences between the 2 that you can share with us?
Cheers,