Panasonic has officially unveiled the DMC-LX5, successor to the popular LX3. The latest model features a revised sensor, longer zoom range and improved control layout without fundamentally changing the existing model's formula. It offers a more flexible 24-90mm equivalent lens with a bright F2.0-3.3 maximum aperture range and a comparatively large 10MP sensor in a small body. The body itself is barely changed compared to the LX3 - gaining an improved hand grip, clickable control dial, direct movie record button and a 1:1 position on the aspect ratio slider. Most significantly it gains a connector to add the DMW-LVF1 electronic viewfinder originally launched with the GF1. Other than this, the LX5 gains the AVCHD Lite format for its 720p video, and its image stabilization is branded with the company's latest 'Power O.I.S' designation. It will be available from the end of August for a suggested retail price of $499.95. We've had a chance to use an LX5 for a bit, so have prepared some notes on our first impressions.