I here it's just a rebadged Panasonic LX5 but with a Leica menu, lack of grip, and a very slight difference in IQ but it's more of the Leica gives a slight warmer tone.
I'd look at the LX5 first, it's a great camera and they are perfect for those who need a compact to compliment their DSLR such as yourself.
Also look at the CSC system with cameras like the EP-1 which can be had refurbished off ebay for £250, the EPL-1 which is £300 from Jessops, Sony nex 3 is £300 from jessops and so is the Samsung NX100. These are all great cameras and will give better IQ than the LX5 with added advantage of lens swapping
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