for me, i was at first excited, then i started doing the math, especially when i realized it was a unique format so that meant i'd have to buy a backup body as well. the numbers are quite high.
then i remembered all that filter/magenta mess with the M camera, and I just bet, (as with version 1.0 of anything), there will be problems with the S Leica.
and by the time the S ships, Canon/Nikon will have something mindblowing, and for a tiny fraction of the money.
what does impress me are the LENSES. if they're anything close to my Hasselblad 203FE lenses, which I know they will be, they'll be amazing, even wide open.
but at some point, you've still got to write the check, and as we're seeing, the world is changing. clients are not viewing files at 200% and counting the pixels. in this high pressured world, where clients want to cram as many setups into a shoot day as possible, the main thing for me is a solid working camera that works well tethered. the camera is a tool; it is not a status symbol. the main thing for me is dependability.
to be honest, NONE of these cameras is very exciting to me. none of them. the canon works, but it's still got that 35 vibe to it. the H1 had that mirror slap; the Contax ate batteries and had a tiny dark viewfinder. i still want a camera that feels like a Mamiya 7 in my hands, but has a four inch LCD, and has a 645 frame proportion. (once I realized the Leica was still that awful 35 frame shape, that was the final dagger).
what amazes me is that some Fred Sanford company hasn't come up with an adapter, (or even an original new box camera) that would allow any brand of MF lens to be mounted. to me, it's about the LENS. think of how many RZs are out there; how many Fuji 680's are out there (the best camera ever ever made; i shot it for fifteen years solid; can you say that about any digital camera?). think of the 203FE Hasselblad or even the V Hasselblad. All those great lenses, and so many photographers having them sitting in their closets, PAID FOR and ready to use.
i simply think that this new world economy will NOT support it, enough for any one company to survive. yes, there will be dentists buying the Leica, but enough to actually turn a profit on all that R&D? yes, the p65+ is a great tool, and this Leica system, but it takes a lot of volume to support this. i just don't see it, when the 5DMarkII is $2700. i just don't see it.
i think too, with the Leica thing, there is a Europe vs. America thing going on, similar to what's going on with Sinar. American photographers love the thought of Leica/Sinar, but they simply won't write the check, due to fear of no rental, and no support. It's a perception thing.