4/3 Rumors' sources have been hands on with the rumored Panasonic GX1, and they say that it'll have a new and improved processor inside a high quality body — the image above is a mockup from Livedoor Blog.  According to the report, the image quality improvement will beat out any Panasonic Micro Four Thirds camera to date, even though the GX1 has the same 16-megapixel image sensor as the older Panasonic G3. It's an interesting move — the G3 has an excellent reputation for capturing detail, and the new processor is said to improve low-light performance above ISO 1600, all the way to ISO 12800.

The GX1 is expected to be announced in the next few weeks, and conflicting reports have pegged its official announcement as either November 8th or October 28th.