Canon is readying a new mirrorless system to do battle with the likes of Sony, Fuji, and Micro 4/3. Much like the Nikon V1/J1, it appears that Canon's offering is going to be a wan piece of crap.
Early reports indicate that the camera is aiming not for Micro 4/3, but for Sony's NEX cameras, which is why Canon chose an APS-C sensor over the smaller one in the G1X. This, yet again, confirms to me that the arrogance of Canon and Nikon knows no bounds, and they don't even consider Micro 4/3 a player. Those same reports indicate the camera feels cheaply built. This means that Canon is artificially segmenting their product lines... again... and this camera line will be aimed entirely at an entry-level market. 'Cause we know how well that worked out for Micro 4/3.
Combined with the fact that Canon's sensor development has essentially stood still for the past three years --and really even longer than that if we ignore simple increases in resolution-- Canon's new system will be a non-option. For those who want an APS-C sensor, Sony will be the only logical option. And for those with even greater pro/enthusiast aspirations will certainly not be lured away from the Fuji X Pro 1.
I await more details so I am given the opportunity to taunt them a second time.