IQ is, in general, pretty good. It's not as good as an APS-C stills camera at 100% but viewed from a monitor or, I'd imagine, a small print, I doubt anyone would notice the difference. Tends to meter and white balance differently to my Ricoh GR, not sure which is more accurate. Dynamic range seems, anecdotally, ok but not great, about the m4/3 average.
Either way, the zoom works well and can compensate for any resolution/detail issues as you can obviously zoom closer. I've never been a zoom fan tbh but I actually like it on the LX100 as the camera is still small with it. I also like that, as you zoom, it gives you 35mm equivalent focal lengths, so I know 'oh ok now I've shooting w/a 50mm' etc, that's useful.
A note on the zoom, with the sensor having it's multi-aspect, in video you actually get, I think, a 26mm-81mm lens, not a 24-75mm (in stills). Prob doesn't make practically any difference but still.
The 4k is good, no Cine-D/V which is a shame (and no log when that comes out presumably), but it's solid otherwise. The camera also triggers my wireless flash, which may not be useful to most but other cameras like the GH4 and the GX7 didn't.
What I didn't like:
Picture profiles for stills and video aren't separate despite both having their own menu option - set the video to a low contrast and you'll get the same for Jpegs. Obviously shooting RAW removes this issue but I found it was a shame; I often like to shoot high contrast jpeg b+w's (hence the Ricoh GR!) and it'd be a chore to have to unpick any settings for when I wanted to shoot video.
The LCD and EVF are sufficient but not great. The LCD has a colour shift towards blue I think and the EVF is pretty small and, whilst useful as a compositional aid, isn't especially clear for critical work. Again, it's all fine but it's not great.
The biggest issue I have is with the sensor. It starts as a M4/3 sensor but as it's multi-aspect when you take stills you end up with a 12mp (not 16mp image). You also end up with a sensor crop that goes from a 2" sensor to a 1.5" sensor. This means the sensor is practically similar to the 1" RX100 sensor vs a m4/3 sensor, and is therefore quite a way from an APS-C sensor in characteristics.
This means if you zoom in and shoot wide open you still can get shallow DoF if you're in tight, but not really if you're in a wider shot. To be fair, you can't have it all and I don't have any 'problem' with it, just observing that it was always a bit of a challenge w/m4/3 sensors, and it's even more of one with the LX100.
The other big issue is the lack of built in ND. I think above anything else if the camera had've had this it would be a truly great camera, but even on a rubbish London day with dark greys skies I was having to stop down to f/7.1 to get a properly exposed image when shooting at 1/50 and ISO 200 in 4k video, at least going by the cameras histogram. It would be such a cool feature to have an ND built in that would let you shoot wide open.
That's what vari-nd's are for of course, and the LX100 does have a filter thread, but it's not an ideal shooting situation as the lens protrudes, but likes retracting in various playback modes, and looks quite fragile and I'm not sure how well it'd do as a throw in the bag type longevity if I was having to jam an ND on it the whole time.
Video IQ is also typical of M4/3 cameras. Personally I was never a big fan of the GH4 video IQ as I preferred the naturalness of the colours from a BMPCC, even despite the resolution advantage. I'd say it's decent thou, 90% of what the GH4 can offer and obviously in a much cheaper, smaller, more convenient package.
tl;dr great camera, lots of great features, 4k video, decent stills, good zoom, small and light and really easy to use. has issues that will either be deal breakers or simply things to work around, depending on your opinion.
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