I hadn't seen Thom's comments when I wrote, but have now reviewed them. He really savaged Nikon, didn't he? Personally I think he was a little harsh on them about sensor size, but the desire for a larger sensor is understood. I think the compacts have made incredible strides with the tiny little sensors. That said, I tried a micro 4/3 last year and just sold it. Image quality was excellent, but it still felt like a point & shoot. If you don't spring for a $250 EVF, you're still stuck with focusing at arms length - in the bright sun. To me, that is a major issue. Like you, I began photographic life on 35mm RF's (Nikon S2 and years later an M3). It seems very natural to look through "something", whether it's a viewfinder or pentaprism, to focus and compose. It's also more stable. As shaky as I seem these days, that also counts. I don't object to an accessory viewfinder, but didn't want to go whole hog spending money to build a whole new interchangeable lens system.
I also thought Thom was underwhelmed by the lens, as only a little faster than the Sony at the long end. But 200 f/4? I'd love to have that 28-200 f/2~4 zoom for my D700! On second thought, maybe I wouldn't. I expect it would weigh a ton and cost a bloody fortune.
No, I like a compact as a backup camera on vacation, and for casual family photos. I took my LX3 to Egypt and Italy in 2010 as a backup, and some of my better photos came from it. Unfortunately, mine developed a terminal disease, and just wouldn't work properly on my Canada cruise last fall. It was replaced by the repair company with a refurb unit, which seems fine, though. But I would like a camera with better high ISO capability, more zoom, and a viewfinder. I thought the P7700 looked very promising until I got to the part about the viewfinder. No dice.
So, as I said, I think I'm going to wait and see what else comes onto the market. Maybe the Fuji X20 or even the Coolpix P8000 will be what I want in a compact camera. Oh well.