Yes, I've been watching the kerfuffle with equal parts interest and amusement. Based strictly on shameless self-interest I envision the following eminating from Panasonic.
1. An LX3 replacement that's an enhanced version of the current camera (better imager, speed, hi-ISO noise, video, sound) with revised controls and a plug-in EVF option borrowed/adapted from the GF1.
A big-chip LX3 would require a lens that was either very large or a LOT slower to keep the size down. Either alternatlve would destroy the essence of what makes the LX3 special.
2. Some kind of 4/3 fixed lens compact that competes with the X1 and DP twins, basically testing the waters to see whether there's a significant future market here. Why compete with a niche that sells a few thousand units/year? After the LX3's surprise success Panny now knows there's a market for high end smallish compacts, but as yet nobody's made a big-chip version with a zoom, or that has "fast reflexes" sorely missing from the DPs and X1. Panny now has a lot of off-the-shelf componentry from µ4/3, which might make development and production of such a camera reasonably affordable.
I'll guess #1 is a slam dunk and #2 is a longshot.