Image Quality:
Ever these was markedly improved. Richer colors, sharper and better (darker) Exposure. In various photo forums is indeed complained that Panasonic has only turned to the settings, but what the heck? You will now receive better photos without costly re-adjustment of the settings directly from the camera.
Ease of use:
The LX5 has now the - from me to the GF1 as estimated - dial at the rear of the chassis. I liked the joystick on the LX3 never. The changeover between GF1 and LX5 has thus become more easily for me personally, because the operation is now very similar. In addition, it is gratifying to have a little professional touch in such a small camera.
Compactness:
The LX5 has become more higher (due to the hot shoe), but has a little less overall depth.
Processing:
Criticism that more plastic was installed, I can not understand. I've looked at both cameras accurately and could not detect any significant differences.
Video mode:
The LX5 now has the AVCHD Lite file format for playback on HDTV via HDMI connection. There is now a long overdue zoom function during video recording, where the zoom during video bit slower and softer running, what very pleasant effect.
Lens:
The quality of the lens has been to the LX3 blameless. With the extended focal length of 60 to 90 mm are now also tapping the portrait photography. That's for me but less important because I use the camera primarily for wide-angle shots (landscape, etc.), where she plays out her true strengths. Especially with the optional wide conversion lens (adapter tube required), with which one can reduce the focal length to an amazing 18 mm.
Which brings me to the only already, but serious criticism (also a star of the costs):
One can almost forget all the accessories of the LX3 and is forced additionally spend money (adapter tube, wide angle conversion lens, filter, battery, original bag, etc). Only the optical viewfinder and Live View Finder of the GF1 are now used (which I eh not but possess).
Conclusion:
The camera itself is a marked improvement over the LX3 (image quality, operation, zoom range) and therefore worth a recommendation.
