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The 12 megapixel Panasonic Lumix DMC-G1 will be available in November 2008. The price hasn’t been announced.  Panasonic claims DMC-G1, a new digital interchangeable lens camera that is based on the new Micro Four Thirds System Standard. 

Size: 124 x 83.6 x 45.2mm weight approx. 385g (Body only)

By looking at the size, it is not much smaller than the E-420 and it is heavier than E-420.              [Size of E-420 : 129.5 x 91.0 x 53.0mm weight 380g (Body only)]