This is one of the best P&S cameras ever produced, but that's just my opinion. Since I have the Panasonic GF1 with the EVF, I can just swap it with the LX5. I don't like shooting without a EVF so that was one of the main reasons why I bought this little camera.
Admittedly, I won't use it above ISO400 as noise just gets in the way, but as a general purpose take everywhere camera, it does just fine. Video with it is also good; I've done a little work in Spain and the output was extremely good. It did surprise me how good it was, although I don't do this professionaly it was good enough for me. Another little plus, I can choose which format I want by switching it on the lens barrel situated near the camera body. I just love this detail. Although this is not the only camera to have this implemented, I was thrilled by it and it allows me to change format without digging into menus which I detest.