I will be eager to see what this machine can do as well. But don't assume Leica lenses always do wonders, much depends on the CCD and the software algorithm as well. Remember the current Lumix line, the "crayon-like" pattern as pointed out by Phil Askey? Hope this doesn't appear in the new Lumix.
mega zoom lenses usually compromise on quality. While c-2040z gives good pictures, c700uz suffers some degradation, like CA, mainly due to the compact long zoom lens. Of course leica and panasonic may overcome that, which is what I'm interested to see too.
And on a personal prefence, I think the camera looks quite ugly. no offence, just a personal thing. Also I thought it will be good to have a hotshoe.