I did a lot of picture taking with a Panasonic DMZ-ZS3 side by side with a Leica D-Lux 4 over the past few weeks. I have to say that the Leica was really nice because it went to f/2.0 where as the Panasonic only went to f/3.8. I know that that model panasonic is not the best, but it is cheaper than these other options.
I think the camera Matt has compares pretty closely to the D-lux 4 and the new Panasonic LX5 seems like it's the same camera as Leica's D-Lux 5. The downside for me was that the D-Lux 4 doesn't have near the zoom of that DMZ-ZS3, but I don't know if that bothers me too much. Looks like the LX5 gets a little more zoom.
Anyways, I guess what I am saying in a long drawn out way is that the LX3-LX5 cameras are pretty sweet. I am sure that Sony gets there on aperture since it has interchangeable lenses... but If I want something with interchangeable lenses it is going to be a full bodied SLR that takes any lens I can get anywhere.
Then, this past Monday I was at a case where one of the guys had that cannon S95... I was like "holy smokes.. THAT little thing goes to f/2.0?" May be a nice one to consider.