Panasonic has ticked the major boxes of reducing bulk and including HD video (at 60fps, no less) while seemingly sacrificing little of what made the GF1 such a richly appealing camera in the first place.
Panasonic has removed the physical dial and instead wants you to touch-control using the LCD. For something like the iPhone that sounds good. For a prosumer digital camera like the GF2, I’m not sure.
NOTE: Original photograph from Engadget. Increased exposure and fill light, sharpened, cropped and changed to B+W.