Frankly, I don't get some of the thinking floated in this thread. If I was Leica, I'd look at the options and choose an obvious route. Leica has helped develop (and lend their name) to three amazing lenses for m4/3: the 25mm f1.4, the 42.5mm f1.2 and lastly the soon-to-be-available 15mm f1.7 (which I hope will live up to the name). What I'd do is use a m4/3 sensor (the best one available), put it into a no-frills body, add only the necessary controls on the outside (i.e. a shutter speed dial and an exposure compensation dial) and cook up a camera that's as fast and straightforward to use as possible. Now THAT'd be something. I'd also redesign the 25mm f1.4 to include an aperture ring - and then offer the whole kit for a neat $4000 (the body and all three lenses in a consistent design and unified handling experience). Not using their partnership with Panasonic would be foolish in my opinion.
I agree that something like this really needs a VF - a good one, preferably an amazing EVF to stay in the game. Given the consistency of the leaked images as to its absence, I doubt that will happen, which would really be a shame. But there *is* a usable EVF available, so I doubt they'll focus on that (no pun intended, alas). I also think that what we've seen of the body design doesn't bode too well as to what this camera will actually be.
I don't care about CCD/CMOS - if they do something deserving of the Leica name, and that starts with handling and speed, not the innards.
M.