So what made me buy the NEX?
1. Very short flange focal distance of 18mm. This essentially allows you to use pretty much any photographic lenses on this camera, including range finder lenses.
2. Larger APS-C sensor. As much as I like the Panasonic G1, getting wide angle for it, even a 24mm equivalent is expensive.
3. Hopefully better image quality. Sadly, the first few images I have taken haven't given me this impression. In fact, the image quality reminds me of the Canon 7D/T2i. OK, not a fair evaluation with only about 10 images.
The camera is very small. Much smaller than I thought. The large zoom kit lens makes it look even smaller. However, it's not uncomfortable to hold. Not as nice as the G1 though. As the camera was designed for digicam upgraders, its UI definitely takes some getting used to. Luckily, Aperture Priority is pretty much all I have used. The screen is definitely better than the G1 screen. Very sharp and vibrant.
Like the G1, this camera will be mostly used with manual focus lenses. I have ordered a Canon FD, Canon EF (since I have a large number of adapters for EF mount), and C-Mount adapters. I have a Kern-Pillard Switar 50mm f1.4 cine lens, as well as the JML 50mm f0.95 TV lens, which I could not use on the G1 due to their very large lens barrel. I am hoping it will fit the NEX. The image circle should be large enough on the APS-C sensor, but I will have to see after the adapter arrives.
I am a little excited about the NEX. Hopefully I will find the image quality good enough to keep it.
Christmas Tree -- NEX-5 with 18-55mm kit. ISO 1600. Click to enlarge.