Price on the canon s95 is $469 on amazon. I don't see how the price will come down any time soon. Since I have e-pl1 with 20mm lens, I dont see myself spending money for this camera either. It looks very nice though.
The S95 goes on sale for between $300-$400 on Newegg quite often. You can get a refurbed S95 directly from Canon for $319. The LX5 is $400 on Amazon. I think the street price for this will need to be in line with those to be competitive.
I thought this would be a M43 sensor in a compact body ala the APS sensor in Sigma DP1/2s. That would have been awesome.