Well, I shoot both "full frame" and 4/3 (and how ironic the 35mm is considered "full frame" now, being that when the first Leica came out, 35mm was considered in the same light as 4/3 is now).
I don't see this as a case of apples and oranges. ALL cameras have one thing in common--they're made to take photos. So I think comparisons can be made. I'm used to shooting "full frame,"since I did so for most of my photographic life, but that did not cause me any difficulty transitioning to 4/3. My 4/3 photos, as far as I can tell are equally as good, to my decidedly unprofessional eye, as what comes out of my M9. Granted , if I blew them up to billboard size, there MIGHT be a difference, but for my purposes, they work as well as anything coming out of my M9.
And OF COURSE I can compare the EM-5 to the New M, when they both have many of the very same features. I can't believe that Live View on a Leica M is such a world-beating feature that I simply must spend $7,000, when the Live View on my $1,000 EM-5 works just as well. And I should point out that Leica is merely "catching Up" (as someone pointed out here) with features like Live View...which a company like Olympus has had on its cameras for four years, at least....
Look, Leica Ms are nice cameras--I should know since I've been shooting them for 19 years. Yes they are a unique camera, but they are not such a unique and special object as far as I'm concerned, that it is sacrilege to compare them to other cameras, or to conclude that other cameras offer a better deal for less money. I'm sorry, I'm just not that much into the Cult of Leica to spend time sneering at other brands or types of cameras as "not worthy and not even comparable."
To repeat, Leicas are nice cameras. Got an M9 myself, like I said. But there was a reason why in 1959, photographers started abandoning the "perfect" Leica M in droves, for the much less costly Nikon F....