This was posted on the Fuji Rumors website today. It looks nice and is smaller than the X-E1... Hot! First images of the new Fuji X-M1!!! | Fuji Rumors Some things: There's a mode dial instead of a shutter-speed dial, which I'm willing to forgive at this price point ($600-$650). There's also apparently no aperture ring, which is a bit of a problem but might be worked around. But modern Fuji's, to me, mean a viewfinder. It's what sets them apart. It's a mistake to leave it out, IMHO. As a result, I'm not sure there's a reason to give up an Olympus E-PM2 or E-PL5 for this, as nice as it is.