To me, cameras fall into 3 categories. (1) pocketable, (2) compact, but not pocketable, (3) huge.
To me, pocketable is essential for street photography and some tourist photos. All I need do is always get the best performance camera that is still pocketable, and that inevitably means the largest in that category. The G series filled that bill for me. I have the G9 but no reason to upgrade until the G1X. I was foolish enough to let eager anticipation blind me to the fact that the G1X has crossed into the compact but not pocketable category. Well, one might as well select the camera with the best performance then. The Sony NEX 5N should be a far better choice - larger sensor, sweep panorama, macro (G1X does not do macro, whatever Canon may say), and interchangeable lens.