He is so scary looking, right as his photos...

http://www.thephoblographer.com/2014/01/10/first-impressions-panasonic-42-5mm-f1-2-micro-four-thirds/

The performance in the frame centre can be described only as brilliant - already at the maximum relative aperture you get useful images, with the MTFs as high as 48 lpmm; then, on slight stopping down, they rise to 50 lpmm and continue the swift increase afterwards. By f/2.8 you exceed 80 lpmm and by f/4.0 the lens is hitting its peak performance – almost 82 lpmm. It is a sensational result, within the margin of error the same as the record values of the Voigtlander 0.95/25 and the Olympus 1.8/75.

The performance on the edge of the frame can be described in very positive terms as well. Even at the maximum relative aperture the images you get are useful, with the MTFs getting to 47 lpmm – a very important feature and a very good result, taking into account the aperture fastness of the lens. On stopping down the resolution first increases quite slowly but from f/2.8 it improves faster. By f/4.0 the lens performs the best – a value of 67 lpmm ensures very high image quality.

http://www.lenstip.com/index.php?test=obiektywu&test_ob=394

http://www.cameralabs.com/reviews/Panasonic_Leica_DG_Nocticron_42-5mm_f1-2_H-NS043E/

I don't think it'll drive anyone anywhere, but it will probably separate m43 users into 2 camps, hobby and pro. Those who make money with their m43 will probably find a reason to get this lens, and hobbyist will have to think thrice and settle for some old legacy glass :)

but it will drive some people in m43 camps to other sensor sizes no doubt. Maybe m43 will die in a couple years.

Client in pub look at the big fish with potato price.

-- So much?
-- Yep, it is our special item.
-- I am sure that such price will drive a lot of clients to other pubs and I am sure that all city will die in few years.
-- Are you nuts, sir?

They catered to people with budgets in a certain price-range, and suddenly increased it massively (so in terms of if anyone wants to upgrade, it is not a small premium on better equipment, but a massive premium for much better equipment)

Just keep calm and live with though that they did not make it for you.

Yeah, I think they managed to tear down quite a bit of the goodwill they managed to build over the last few years.

The onioned shaped bokeh balls are a little disappointing. Also I don't think it is outstanding at f/1.2. Not at this price.

Panasonic is proud to introduce the new LEICA DG NOCTICRON 42.5mm / F1.2 ASPH. / POWER O.I.S. (H-NS043) interchangeable lens for the LUMIX G based on the Micro Four Thirds System standard. (35 mm camera equivalent: 85 mm). This incredible lens not only has a maximum aperture of F1.2, but it also incorporates optical image stabilization (POWER O.I.S.) along with full time Auto Focus. Certified by the world-renowned LEICA, exceptional high image quality is guaranteed as well as its sophisticated metal design. The name "NOCTICRON" was newly defined by Leica Camera AG for this lens that achieves a remarkably fast F1.2 aperture among Micro Four Thirds digital interchangeable lenses.

The new lens system is comprised of 14 elements in 11 groups and uses two aspherical lenses, one ED (Extra-low Dispersion) and one UHR (Ultra High Refractive Index) lens. The aspherical lenses suppress spherical aberration and distortion. The ED lens enables sharp, high contrast description without color bleeding to the corners while the UHR lens enables high optical performance that renders an image with uniformed descriptiveness from center to edges as well as downsizing of the lens unit.
The popular 42.5 mm medium-telephoto focal distance (Equivalent to 85 mm on a 35 mm camera) is perfectly suited for portraits with rich stereoscopic effect. Together with the high-speed aperture, users can utilize the beautiful soft focus for more impressive, creative shots. Nine blades give the aperture a rounded shape that produces an attractively smooth effect in out-of-focus areas when shooting at larger aperture settings. It also captures landscape with an extremely natural perspective. In addition, the aperture ring on the lens barrel allows direct, intuitive control over aperture settings.

Panasonic's Nano Surface Coating technology has been adopted to the NOCTICRON 42.5mm / F1.2 ASPH. / POWER O.I.S. Reflection is dramatically minimized at entire visual light range (380nm-780nm) by applying the extra-low refractive index coating with nano-sized structure on the surface of the lens. It results in a super clear image with dramatic reduction of ghost and flare.

Due to the shallow depth of field which is unique to the large aperture lens, even a slight handshake can potentially cause images to be out-of-focus. However, the POWER O.I.S. (Optical Image Stabilizer) which is integrated in the LEICA DG NOCTICRON 42.5mm effectively compensates for not only small, fast movement but also large, slow movement, making it easy to capture super clear shots even when shooting in low-lit situations such as in night time or indoors.

It incorporates superior inner focus system, which enables excellent resolution and contrast from close-up to infinity. The inclusion of newly developed stepping motor makes the focusing action smooth and silent for use in both still and video recording. Notably the performance of Auto Focus is far superior to the phase-difference AF when a fast lens with smaller F value is used. When mounted on LUMIX G cameras, users can take advantage of the high-speed, high-precision Contrast AF system.

The sophisticated metal design of LEICA DG NOCTICRON 42.5mm / F1.2 ASPH. / POWER O.I.S., including the hood, deserves to bear the prestigious LEICA name. A highly reliable metal mount is durable enough for repeated mounting of the lens.

42.5mm specs

• Lens construction - one ED lens, one UHR lens, two aspherical lens
• 14 pieces in 11 groups
• Inner focus
• Integrated stepping motor
• Aperture ring
• POWER OIS
• Metal barrel
• 9 aperture blades, circular
• Min focusing distance - 0.5m
• Max magnification - 0.1x
• Filter size - 67mm
• Height - 76.8mm
• Max diameter 74mm
• Weight: 425g
• $1600 / 1500 EUR price

I recently got to go on a very special tour of Grand Central Terminal, into areas not accessible to the general public. I also had a few hours to play with the new 42.5 lens and managed to shoot a few head shots. Two below and two others contained in the set. It's a fantastic lens, though definitely larger and heavier than past offerings.

http://www.flickr.com/photos/wasabi_bob/sets/72157638146201873/