Thanks for all the feed back guys. I knew I could count on you all to provide the good scoop.
I realize that this new format will have it's strengths and weeknesses (lcd screen vs view finder, ability to hold steady) but I think it will be interesting to follow. I don't take many action shots and will probably continue to carry my GorillaPod or get me a click-stick to take self shots.
I currently use an Olympus SP-350, not the lightest but it fits my hand well. I'll definitely have to check out that Olympus SLR that was mentioned.
If you think you can, you can. If you think you can't, you can't. Either way, you're right.