Yes, but!

I don't use this blog to reveiw camera or lens although often times I did mention the camera I use, or sometimes hinted my bias over Contax, but the fact is that really the camera or lens is not a matter, not a decisive one anyway, in final pictorial quality. But this is not to say the camera and lens has absolutely no affection on photography.  Some may say that the particular sound of a shutter of a camera does more inspiration to photographer than another, example of the classic film based Leica M, or the sexy sound of Contax RTSIII, or the whisper quiet Olumpus OM-3Ti and so on and so on.  By the same token, this can be applied to particular bags or hats for woman, penor watch for man, and so on and so on.
In my last post I gave the SONY NEX a status as "The NEX Big Thing" but this does not render the M4/3 obsolete. Far from it, in particular the Panasonic GF1, is still a powerful tool.  In practical terms, GF1 focus faster (as of this writing), more accurately and the final picture quality in most often used ISO setting, is just as good as NEX, although I would safely predict that evnetually with the advantage of sensor size, the NEX might be able to pull away more visible lead later, BUT not right now as it exhibits.  I also carefully mentioned the "most often used ISO setting" also pointed out I do beleive the larger sensor's advantage over smaller sensor.  This is simple physic, this is not a problem of Panasonc, Olypus nor as it is an advantage exclusive of SONY.  Four Third System has a lot of hype but never did deliver its size advantage until the introduction of M4/3, but then again, quickly proved by SONY that larger sensor does not necessary need a larger package, or as my last post mentioned, the Contax T2/T3 or even Minolta's TC-1, they all proved long time ago the full frame 135 format camera can be made small.  Into digital age, it is just a matter of time.  And eventually, one need a comfortabe size camera to work, not the smallest.  So the pursuit of size will eventually halt, as it is on mobile phones, to such matter, I really really don't see 4/3 or M4/3 and any more card to play.
The NEX is big because it is developed base on a lens mechanism that allows more fluid focus on video capture, something less capable by M4/3 system.  Speaking of picture taking, the camera such as GF1 is simply just as good as NEX if not better. The NEX probably designed with a price goal so its control has in most parts - electronic, rather than dials and buttons as it is on Panasonic GF1, this results the GF1 a more photographer's tool and SONY a more point and shoot camera. The GF1 alos has a hotshoe/accessory shoe that allows the use of a radio slave, for this shot of a nice Thai lady, Ploy.  GF1 + Olympus Zuiko 50/2 ED Macro.