A new version of the wide format LX series - this one has 24-60mm equivalent lens, f/2-f/2.8 max aperture, a hotshoe for a dedicated optical vf (or external flash, of course), and perhaps most significantly of all, unlike previous generations this one is still a 10MP camera and the wide-angle is still an equivalent 24mm in any of the 16:9, 3:2, or 4:3 aspect ratios. The long end of the zoom is more limited than we're used to in a compact these days, and I would guess that that is what has allowed Leica to make it an f/2-f/2.8. The LX1 and LX2 both came in for criticism in the noise department, so I imagine that extra stop or so over what is more commonly found today will help considerably in low light.
At any rate it's definitely got me interested! :-)