I first posted this in DP Review . . .
Just read it and I get his points. On an absolute scale the M8 is a luxury, but I can't say that I agree with the idea that it is less responsive than other digicams -- that just isn't my experience so far.
The thing that Mike misses a bit is that for photographers *of a certain age* -- by which I mean born around the middle of last century and including me -- the Leica brings back a feel to photography that has been missing for many of us for a long time. Sure it's pricey, but it's also very high quality -- and Nikon and Canon also have digicams in the $4-5K price range, so it is certainly not alone.
The Leica M8 -- as a picture taking thing -- has its shortcomings, no doubt, but as an extension of the photographer's mind, it offers something far more important, at least to me -- a better sense of connection with what I'm shooting.
I'm not sure how to say it, but the M8 slows me down and makes me think (just as any good manual RF camera would), feels great and I like what I'm getting with it. Does it replace my D200 with it's huge lenses? For some things not a chance, but as a camera I WANT to shoot with, absolutely.
Another thing about the M8 is that I seriously doubt it will be a collector's camera as some recent Ms have been. Who collects digital cameras after all?
In cost terms an M8 with a selection of Voigtlander glass costs about the same as an equivalent high-end Nikon or Canon system -- one will likely spend $6-8K before being "done" -- but the camera I *want* to take when I go out is the Leica -- what's *that* worth? I can't put a price on it.
It may strictly be an age (and means) thing, but for me the Leica M8 is the digital camera I've wanted for a long time without even knowing it.
Personally I think Leica will sell all the M8s it can make -- just try getting hold of some of the newer Leica glass and you'll see what I mean!
For younger folks, just coming up, there may be better choices -- there are certainly enough to choose from.
I'm glad Leica made the M8, and I'm glad I decided to get one.