Leica's new V-Lux 3 is the the company's latest upmarket remodel of a Panasonic camera — sharing fundamentally the same specs as the Lumix DMC FZ-150. Both cameras offer a 4.5-108-millimeter f/2.8-5.2 lens (the equivalent of 25-600 on a 35mm camera) with optical image stabilization, a 12.1-megapixel sensor, and a 3-inch display. Unlike the previous Leica / Panasonic crossovers, it's not clear at this point what Leica's adding to the mix in terms of UI or image processing, but you do get a two-year warranty and bundled copies of Adobe's Photoshop Elements and Premiere Elements. And a red dot — that's worth a $450 price premium, right? The Lumix retails for $499, while the Leica is going to be priced at $949 at launch.