I picked this camera up on my last trip to Japan 3 days after it came out there. In Japan they only sold a kitchen sink bundle for the first few weeks which included the body, 22m lens, 18-55m lens, EF Lens adapter and the Speedlite 90EX flash.
This camera takes fantastic pictures! But there are two shortcomings that are incredibly annoying. First of all the camera takes a good second (or more) to focus - for a camera this expensive this is almost unacceptable. My Canon G11 was focusing faster... Second there is a (beautiful) touch screen on the back of the camera. This touchscreen can also be used as a shutter - as in: touch the touchscreen to take a picture. Now the product manager/developer who decided it was a good idea to put the control to enable/disable the touch shutter onto the touchscreen needs to be fired. When I walked around various Japanese cities with the camera around my neck it happened with regularity that the camera would bump up against my body, turn the touch shutter on and then continue to take pictures every time it bumped against my body. SERIOUSLY ANNOYING with no way to disable. I really hope there will be a firmware update to fix this (there is a menu setting to enable/disable the touch screen shutter - I have no idea why the additional control on the screen itself).
When doing post processing of my photos I did notice that I had quite a few of them with the focus slightly off. Guess the automatic metering didn't always pick the right spot to focus on - but then again I could have easily fixed that by using spot metering.
Now various other reviews (e.g. on Engadget) mentioned the missing mode dial compared to DSLRs or even G-series cameras. To be honest I haven't missed it that much during two weeks of intense shooting.
Also I haven't scratched the surface on what this camera can actually do - but I did find that for taking HDR pictures the built-in mode only really works for static scenes. With moving objects the camera can't really build a great HDR - so if there are people in a scene it's definitely better to process manually on the computer.
There really isn't much to say about the two lenses or the flash that came with the camera - they do the trick. And I have no EF lenses to try the converter with.
Added 2013/05/08: I just returned from another trip to Asia and after this trip I would no longer recommend this camera. It simply doesn't focus fast enough to capture things quickly - e.g. when driving in a car and trying to take photos of the outside. Also I can't tell you how often my wife (or anyone else) ended up in my frame because it took more than 1 second to focus and take the shot. I know that's more "snapshot" photography but nevertheless I'd like to have that option.
Added 2013/06/27 Canon just released a firmware update 2.02 that claims to increase focusing times 2x - 3x in OneShot AF mode. I just applied it and within the room I'm in it seems to do what it says. Now I'll have to test the new firmware in the wild to see if it makes this camera more suited to my style of photography.
Added 2014/06/19 Well I finally sold it on eBay along with everything else Canon. After yet another trip with underwhelming photos - mostly due to the STILL slow focusing and lack of decent tele lens (I know I could have bought an expensive DSLR lens and used with the adapter - but what's the point of having a small mirror less if I have to haul along a big zoom lens). Interestingly Canon just announced a tele (55-200mm) lens for the EOS M - but just like the wide angle and the M2 it is not available in the US. And to top it off it's not even that great in terms of optical properties).
So being a bit annoyed with Canon I sold everything and went all in on a Sony a6000 - WHAT A DIFFERENCE!!! Great camera, super fast focus and a range of GREAT lenses (got a Zeiss lens with it). I'm afraid Canon lost me as a customer - guess what brand our next compact for my wife will be....
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