It leads the digital point & shoot world with a fast f/2.0 lens and wide angle lens equivalent to 24mm in the
The different control settings are a better for more advanced photographers than a lot of consumer p&s. Instead of a wheel with choices of "Nightime" and "Sports", there is Shutter Priority, Aperature Priority, Manual, and then a couple options which you can program. It is a bit more intuitive to me and I like having a bit more control. Of course, there is also full Auto.
Cons: Most of what I don't like is common amongst digital p&s.
Another advantage of the D-Lux is low light shooting. Due to it's really short ACTUAL focal length, I can take nice indoor no-flash photos at 1/10 shutter speed, f/2.0 and ISO 400. However, due to that short focal length it's nearly impossible to seperate the subject from the background since the actual focal length is so short.
The Leica vs. Panasonic debate: There is different software and a longer warranty with the Leica. So it is a bit more than a red dot, but not a tremendous amount. I also do like hte Leica finish bit more. However, the current big difference is that availablity of the Panasonic is non-existant. Sure it says $460 at B&H,which is $240 less than the Leica, but they are out of stock. Same with Adorama and every other reputable dealer that I know of. It's available over Amazon... for $699, the same price as the D-Lux4.
Full Evaluation: I'm going to look at the D-Lux along several different aspects
--ISO
--Various Focal Lengths
--Bokeh
--Video
ISO:
ISO setting give good results up to 400, and drops off significantly after that. The camera has a nice setting which will automatically limits ISO.
For the test: below photos are a crop taken wide open at about 20 feet away.
ISO 80: This is the lowest ISO setting.
ISO 400: The quality is still decent.
ISO 800: There is a noticeable dropoff of quality.
ISO 3200: The quality here is unusable. Find a tripod.
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