I used the M8 for 1 hour INDOORS a few days after the launch. There wasn't any banding. No magenta streaks either. The WB wasn't that accurate on wood, timber, brown colours.
Skin tone wasn't that bad by my standards...then again that's subjective. My caucasian friend turned a little pinkish but I think that's cos he caught the reflection off the big red Leica logo onto his pale skin. :dunno:
The wood colours are totally unacceptable though. After tweaking it on Kelvin levels... it comes close but still not what you may expect from a 350D.
And as long as they solve the balance.... I think it should be a winner for people who already have $50K worth of lenses to work digitally on a 1.33 crop 10mp camera.
What's $7,800K if you have already spent a mini fortune on the lenses?