I’ve had a secret crush on the Panasonic Lumix series of digital cameras… they do have Leica lenses. But the problem is, they really didn’t have any DSLR’s that were in my price range. Nor did I really fancy most of their handhelds – the L1 has me drooling like no other though. But I still liked them because of Leica’s inclusion and waiting for the day that I can replace my Sony DSLR-a100k.

Now I have another reason to drool over the Panasonic Lumix line… the newly announced “DSLR-ish” DMC-G1. Utilizing the Micro Four Thirds which brings DSLR level of detail into the smaller, thinner bodies of smaller than your typical DSLR bulky camera. In simpler terms… better camera in a smaller space.

Panasonic today announced the world’s first Micro Four Thirds system camera, the LUMIX DMC-G1, the world’s smallest and lightest digital interchangeable lens camera, weighing in at approximately 385 grams (0.85 lbs).* Based on the new Micro Four Thirds System standard, the LUMIX G1 eliminates the internal mirror structure that defines digital single-lens reflex (DSLR) cameras, thus reducing the size and weight by nearly half.** With the mirror-less system, the G1′s flange back, which is the distance between the mount and the image sensor, has been reduced from 40 mm — as specified in the Four Thirds System — to approximately 20 mm.

The new Panasonic LUMIX DMC-G1 will enhance the advanced photo quality and flexibility made possible by the Four Thirds™ System, and with its innovative design, consumers will appreciate the portability of a smaller camera body and lenses. The G1 will be available in mid-November as a kit with the new LUMIX G VARIO 14-45mm/F3.5-5.6 ASPH/MEGA O.I.S lens. Also available in November, and announced today, is the LUMIX G VARIO 45-200mm/F4.0-5.6/MEGA O.I.S.lens.

“With the LUMIX G1, we are filling a void that has existed for a long time in the digital camera market, because consumers wanted the power of an SLR, but previous models were bulky and inconvenient,” said David Briganti, National Marketing Manager, Imaging, Panasonic Consumer Electronics Company. “The LUMIX G answers this challenge as consumers can benefit from the flexibility of changing lenses; a quick Auto Focus; and a sensor that produces high-quality photos. By packing all those powerful assets into an extremely compact body with easy-to-use features familiar to point-and-shoot users, we are excited about G, as it brings new possibilities to the consumer.”

The LUMIX G1 is also the world’s first interchangeable lens camera that will come with color variety — with availability in black, blue and red models — allowing consumers to personalize their style through color, something very popular with point-and-shoot camera models.

Pricing for the camera and accessories are to be announced in early October. Read more at the Panasonic Pressroom.

I can’t wait.