Here's a couple of "on-the-go" photographs made with my brand-new Panasonic GF1/20mm 1.7 lens on Bleecker street in NYC's West Village. There was a couple of garbage bags on the sidewalk which I had to frame out of the top photograph by chopping off the woman's shoes. The second is of a woman balancing 4 (actually 5, I think) lemonades and seemingly on collision course with another...it didn't happen.
I shot these with the GF1's Intelligent Auto mode on; essentially the "point & shoot" mode, which I'm using for a couple of days until I get used to its handling. The IA mode allows me to photograph in both RAW and jpeg. The images above are the jpeg versions (out of the camera), and were slightly sharpened with CS. Click on them for a larger size.
In my opinion, the GF1 is a hybrid between a point & shoot and a rangefinder, and is ideal to carry on photo walk-abouts. It's probably a camera that P&S shooters will consider as a step-up, while DSLR users will view it either as a backup or as a carry-around tool. The shutter lag isn't too bad...in fact, I didn't find it to be much of a problem. It's there, but it's not significant.
It still bothers me not having a viewfinder (a Panasonic EVF or Voigtlander OVF may be my next purchase) to look through, but perhaps I'll get used to it. One of the notable advantages of this camera is, when photographed, people don't seem fazed (or threatened) by it as compared to a DSLR.
I carry it on a hand strap, and I find that it doesn't nestle easily in my hand. Maybe I'll get used to it in a few days.
Am I in love with the GF1? Not yet...I like it, and getting used to it...but it's not love (yet).