Appears it just got announced officially...
http://www.theverge....mera-competitor
$800.
"When we met with Canon, reps were careful to note what the EOS M is, and what it isn't. In the US, the company is positioning the EOS M as a video-first camera, designed to be something of a companion tool for videographers and cinematographers much the same way the G1 X is designed for pro shooters who want something smaller than their DSLR. Since it lacks a viewfinder, reps said, it doesn't provide the same still photography experience as a camera like the T4i. Without the controls and ergonomics of a DSLR, it's also not as fast to operate. Canon's not even calling the EOS M a "mirrorless camera," lest buyers be confused into thinking it's a NEX or Micro Four Thirds competitor. Though the camera's clearly capable of the same functionality as a NEX-F3 or an Olympus OM-D E-M5, Canon imagines a different user, one much more focused on video. If you want to step up from a point-and-shoot, reps said, buy a T4i."