Summary: I use this camera in situations where it's not practical to bring my full sized SLR. It's decent in low light, but not as good as a full sized SLR. The small size allows you to put it in a small bag comparable to a point and shoot. This model actually has a flash hotshoe, something that is missing from the GF3 model. It doesn't have the ability to talk to my Canon flashes besides telling it to fire.
Summary: This little camera is a joy. I have had it for like 3 years now and have had a lot of fun with it. I have been noticing that the protection on the monitor is flaking off. It is very hard to see to take a picture outside now. I have considered replacing it with a GX1 or GF6, but don't want to if the problem hasn't been fixed. Other than that, I have absolutely no complaints.
Summary: I won't go into pro's and con's after two years of use. Plenty of info posted by pros on the web. Built quality is good. So far no issues. Its a tool. It gets the job done. I have other tools for different situations. When i need better quality i use GF2 and my set of lenses. Its not perfect, not my dream camera. But i'm not upgrading every six months because Panasonic makes one. End result will not be a huge improvement worth upgrading, even compared to APSC.
Summary: I am so torn on the Panasonic GF2. Ive always wanted its predecessor the GF1, now a classic in the world of digital rangefinder cameras, due to it being fun to use with high quality results, robust build quality, and a good combo of automatic and manual functions. But I was NOT willing to pay the rip-off prices asked here and on eBay for a dated digital camera. So I settled on the GF2 as my introduction to M4/3.
Summary: First of all both these cameras have been replaced with newer models but can still be obtained. First, the good. Both are light weight and take marvelous pictures ,though both suffer in comparison to a Canon Eos in low light ,fast moving situations. Advantages of Lumix- Sensor is twice as big,which should mean sharper pictures. But it doesn't.If anything the canon is a little sharper. I have the 14-42mm plastic kit lens.
Summary: Pros: - LCD has great color and viewing angles - Light - Stereo video - Hotshoe - Responsive touchscreen - Snappy startup - Dedicated movie button - Automatic image rotate - Flash is mechanically released; you can tilt it up for ceiling flash shots, which is nice - Surprisingly easy to grip (not great, but better than expected for the slim body) Cons: - Menus a bit confusing - Lens is huge (this is excusable) - Thumbwheel is a bit stiff - Flash does not extend high...