Canon's S90 (coming in October) has a F2.0-4.9, 28 - 105 mm (equivalent) lens.
Apples and oranges, I admit, due to the sensor size difference, but I can't wrap my brain around the X1 and its price tag. The IQ is going to have to be phenomenal. Canon realized that everyone wants a faster lens on these things. I guess Leica missed that memo?