I think that panasonic is basically this leica for less $$. I may be off here, but that was the dinner table conversation we had about it a few months ago.
My folks got the leica this winter and I got the chance to use it a lot over the christmas break. I liked it a lot. The panasonic you posted is what I was thinking about getting.
I just bought a panasonic Lumix for work:
and have to say that it is a really nice camera.. but then again anything is nicer than my old coolpix...
It takes GREAT close up shots.