We seriously looked at it when we bought the S95, I thought it was a great package. Really nice wide angle, a useful range in lens. Its nice to hold and feels a bit like a real camera, but then we decided that its too big for a compact camera. Catch 22. Its come down in price, but it wasn`t cheap to begin with.
Also and it may just have been the model we had looked at or the setting, but we found the screen better to look at ( brighter) on the S95.
Its sounds like a minor thing, but its nice not to have a lens cap. The S95 is great in that regard, just turn it on or off and slip into the pocket or handbag etc. That alone and with its small size made the S95 the winner in our books. There is no excuse ever, not to have the S95 with you at all times. The front control ring is nice to use, its easy when in manual to turn the front one and then adjust the back one, its easy and intuitive.
On the Panasonic, admittedly I didn`t spend a lot of time with it ( I was in a shop) it was annoying to have to go into the menu system to change things. Other than that, not much to complain about, it could do with stereo video instead of mono. Better high iso performance, and that goes for all of them. Full HD , not that matters that much. I miss not having a viewfinder on the S95, so a viewfinder
I have a Panasonic LCD TV and a panasonic hd twin tuner, what could be handy is interconnectivity between the devices. Ie where the smart tv`s are heading. I have not played with any of this stuff, but I could imagine that taking photos of a family event and then show them on the tv and the burn them to disk on the dvd recorder. In this area there could be improvements made, especially in user-friendliness. Or resize, load them and send them via email. Suppose people just use their phones now?
I am a dinosaur I use my mobile phone for making phone calls and the odd sms
Basically I like the LX5, if it was smaller and a tad cheaper, had a viewfinder and done away with the lenscap thing and I would have bought it. Hopefully with practice the menu system would be easy to use as the two rings on the S95, otherwise its needs to improve that. The 24mm wide angle is a big plus, the successor needs to keep that. Fit a bigger sensor.