My worries with the first version of the MD is the bugs/flaws. If you look at Canon's history, just about every one of their DSLRs had serious firmware flaws that resulted in the camera freezing or images being lost. My D30 had problems, and so did my D60.
Worse, the D60 was immediately replaced by the 10D within an extremely short time period. It had roughly the same specs, except that it fixed all of the fundamental flaws of the previous D60, including poor auto focusing in low light, and poor metering.
Given Leica's current financial problems, and you release a camera that has flaws, are you going to fix it for free, or are you going to announce the MD-P (perfected) which has refined features? I'm guessing that they will go after more sales and release a new model. Of course, they'll make the sensor 20% larger, fix the inevitable UI issues and other minor quirks that people complain about. Hell, this is what _every other_ camera manufacturer has done. Why should Leica be any different?
Leica is behind the times with their digital cameras. The dlux2 has noise problems at ISO 200. My R-D1 produces acceptable, grainy/noisy, B+W images at ISO 1600. Is the first MD going to meet or beat this? If not, they have failed.
Don't get me wrong, I love my MP. It is a joy to use. It will be interesting to see if they can carry over the intuitive "interface" to the the MD. The MP was essentially designed in the 50s. The last time Leica tried to change the mold, they ended up with the M5 which was rejected. The M6 went back to the previous formula.
The basics are easy; shutter speed, ISO, shutter release, etc. Leica has this nailed. I wonder about the LCD interface, adjusting the camera settings, formatting the card, virtual filters, etc. What data is going to be in the range finder? ISO setting, shutter speed? How is the camera going to meter? What is the battery life going to be like?
Leica needs help with this. If they had this stuff nailed, then the Dlux2 would be selling like hotcakes.
In the end though, it all comes down to the glass and the film/sensor. They've already won when it came to the glass; now it is down to the sensor. The R-D1 uses the same sensor as the Nikon D70, lets hope that Leica does better. I'd love to see an Imacon sensor.