Dear Arturo,
A very fair analysis, but there are a few nits I'd like to pick.
First, how much does this differ from a high-end digital compact? The only differences I can readily imagine are first, a half-decent viewfinder instead of a chimp window and second, interchangeable lenses with reasonable speed.
Second, there's still the problem of the body thickness. Use an SLR sensor and you're looking at about 50mm/2 inch body thickness in front of the sensor. A thin body assumes a smaller sensor (= lower quality) or a microlens array (= M8).
What Arturo wrote is what I've been keeping saying for years, i.e., I never got the point of any D camera wanting to be a film camera with a sensor inside instead of film. Something new is mandatory, and in a certain way the "live-view" mode having appeared on most of the high-end (now even on some prosumers ones) DSLRs just confirms that idea.
And yes, sensor size is critical, but not critical for itself. Sigma claimed to have solved that problem with their DP-1 (DSLR sized sensor in a compact digicam) but I must say that I'm not convinced at all by that beast judging by all the photos from it displayed all around which I could closely look at.
What puzzles me re. the M8, which I have handled and used, is its very poor ergonomics. I can't guess why they absolutely wanted to stay on the film-based M design (flat body and round edges in particular) since there is neither any film cartridge nor any film take-up spool in that thing. Sometimes I wonder if Leica hadn't stocks in some hand-and-thumb orthopaedics offices.
Nobody had to invent any "Thumb-Up" nor any other strange add-on to improve the grip of a recent DSLR...
Also, once a camera needs some batteries to work, relies 100% on its CPU and electronics, has a firmware in, a view LCD screen and all, I don't see the point to keep that old 54 years old optic rangefinder in. You'd say, to use the existing M lenses. Yep, so why did they need to release that recent Summarit lenses line ?
I have seen professionally post-processed RAW files from the M8.
I have seen professionally post-processed RAW files from the Canon EOS 1D MkII and the Nikon D2X.
I have seen professionally post-processed RAW files from the prosumer Canon 350D and Nikon D40X plastic toys.
Quite frankly... I'm still not convinced, that the M8 will provide better photos (purely technically speaking) than the D40X fitted with a very good lens given that the essential post-processing step is taken into account.
What many of these gear-biased threads seem to omit. Things have changed. When you shoot digital, more than half of the job will have to be done at post-processing.
So far the *most beautiful* digital pictures I have ever seen in my life come from a friend's Canon EOS 5D outfit. Just because the friend is now a master of LightRoom and the like.
Rather getting a good entry-level prosumer DSLR, buying yourself a high-end APO ASPH IS etc carry-all-around zoom with the money saved on the body, shooting RAW, and mastering the post-pro just fine, than spending four grands on a M8 (without lens).
Nostalgic of the good ol' RF time ? Well, so am I sometimes. This is why I use to take these old RF things off the cupboard, and burn a film or two with them, when I want a trip in the past.
But putting nostalgy in a 21st century digital body and as a result getting quirks such as critical rangefinder calibration issues and purple casting etc. doesn't make much sense for me.
Just my two cents etc.