Analyses of Leica's new M camera have been posted across the various sites and, well, they look good. As always with Leica, though, the results are odd, verging on bad.
Looking at these results from Focus Numerique, we see a massive and material shift in image quality in the jump from ISO3200 to ISO6400. We saw a similar effect on the Leica Monochrom. Detail retention is good, but the amount of luminance noise is huge. Next to the Sony RX1, there is no competition. The RX1 is superior in every way.
DxOMark shows similar results. Wildly better than the old M, but still not up to the level of other cameras in its segment. And while the old M was unique on the market, the new M faces off against the RX1 and Fuji X Pro 1, making it a tough sell for anyone but the Leica faithful.
Still, the Leica sensor is competitive. That is much more than could be said of the old M, which produced inferior images to every other full-frame camera on the market.