Andy Westlake, DPReview:

We’re not expect­ing any sur­prises in terms of image qual­ity; Canon says the EOS M’s stills and video out­put will be iden­ti­cal to the EOS 650D, which means it should be a close match to any­thing else in its class.

Update 2012.11.09: Roger Cicala, PetaPixel:

I’m all about image qual­ity above all other things. This cam­era gives me great, great image qual­ity in an amaz­ingly small package.

Will it replace an OM-D or SLR for my every­day shoot­ing? Absolutly not: its AF is too slow and there aren’t many native lenses yet.

The EOS M is priced US$799.99. Even if Canon updated the firmware to improve AF speeds and reduced the price to $699.99, I wouldn’t be able to get over the ugly design.