I'm in the (rather long) process of writing a short comparison (i.e. I've been lazy about getting around to it) between the LX3 and the Ricoh GRD II.
I really love the LX3 for some things:
1) image quality at ISO800 (excellent)
2) FAST good quality wide lens (Leica f2.0 @ 24mm)
3) ability to shoot HD 16:9 video
4) 16:9, 3:2, and 4:3 formats
I really really really really despise the camera for two big things:
1) Ergonomics
2) Form factor
That, to me, is the big downfall of an otherwise great camera.
Why do I hate the ergonomics?
The ability, to me, to use a P&S (even if it's a "high end" P&S) is to be able to use it quickly, with one hand, and with little effort. I can do that with the GRD II. I can operate the whole camera, options and all, while holding it in one hand.
Try doing a macro with the LX3 in one hand.
Try changing the format from 16:9 to 4:3 or to 3:2 with one hand.
It can't be done.
Changing modes is cramping on the thumb (at least my thumb) on the LX3.
Not so with the GRD II.
Why do I despise the form factor - well, mainly because I can't seem to feel "good" about putting in my pocket - it's just less pocketable than the GRD II.
So, the LX3 wins on the points I love about it.
It loses on the points I hate about it.
In the end, I don't think the stuff I love about it will make the camera stay in my stable - mainly because, if I don't have fun operating the camera (or can't enjoy operating it easily) I'm not going to use the camera - and to be honest, the LX3 has sat quietly since I got back from Australia in November....
Cheers,
Dave
Here's an image (sorry for the large size - I blame Flickr
🙂 ) from the LX3 @ ISO 800 B&W straight from the camera (Natural B&W)