>>3554042Do you absolutely need something that collapses completely flush? Do you absolutely need superzoom ability in a pns form factor?
If no, you can still get extremely small, inexpensive, and very high image quality plus zoom with something like the Olympus EPL9 with a 14-42mm pancake zoom.
If you don't need zoom, the GRIII is the best choice for a pns, by far. Or get a used GRII and save a shitload of cash for practically the same camera.