Pros Price is great for a ILC- $400
Micro Four Thirds lenses allow variety of lenses needed for enthusiast photographers
Allows for better diversity than Super-zooms
Great amount of MP
sensor size is larger than super-zooms/P&S
Cons Electronic Viewfinder is ok. However, is a lot better than having no view finder. Other features make up for this.
Summary Most of the cuts from the DMC-G2 are extraneous such as the adjustable LCD touch screen ability. Removal of the dedicated record button is not that bad of a drawback, considering the price. The DMC-G2's electronic viewfinder is better than the DMC-G10's EVF. However, it wont affect the your ability to shoot, just use your eyes first then finalize with the EVF. It is a really good transition camera from P&S to ILC and dSLR cameras. Good size for traveling, and the kit lens is decent enough for the basics, however, with the money saved by getting this instead of the DMC-G2 or other competitors, you could almost get a faster/telephoto/prime lens.
Pros Great next step for someone looking for more than a point & shoot, but can't get a DSLR. Good quality images, a good range of lenses, and even more if you can get a 4/3 mount for other lenses. Nice compact size compared with sometimes bulky DSLR's
Cons Haven't found any yet