This Engadget review of the new Olympus XZ-1 is pretty outstanding.

Since I haven’t pulled the trigger on the Leica D-Lux 5 yet — a camera I’ve been pining after for over a year now — I may as well save a few bucks and get the Olympus instead.

Here’s a quick snippet from the review:

We had a feeling the Olympus XZ-1 would be a winner, and Digital Photography Review seems to think so, too — it called the 10 megapixel, full-manual point and shoot “the best photographers’ compact currently available” at the end of a thorough review. Most of the praise was heaped on that F1.8-2.5 Zuiko lens, providing an “unbeaten combination of range and brightness” whose potent, detailed low-light performance was practically enough to cancel out the publication’s worries about the lack of a adjustable noise reduction setting.

Worth a read and a look/see for those in the market for a sweet, slim digital point and shoot. You can see the full review here.