The full discussion of L-Camera revealed that there would be some kind of future for R glass, most likely a FF Panasonic with an electronic viewfinder. Not what most Leicaphiles had in mind, but something that would keep the R glass going for a while.
Not only is the R10 gone, but I suspect the S2 will follow after, and fairly quickly. The combination of the economy (and the downturn has quite a way to go, yet, I believe) and the competition will squeeze the S2 hard. Some people will pay $40,000 for an untested system from a shaky company, because they like the brand so much, but I think the average MF-using pro will take a pass...
Leica's salvation could be a high-end rangefinder that could combine heritage glass with a modernized body that would include focus confirmation and in-body IS. A nice little company could be built around such a concept, selling a few thousand Ms every year, and four or five lenses each, but only if the company stops throwing money down every rathole it can find.
JC