This is only my personal opinion.
OPINION
If price is SGD 2300, I think the Fuji X100 is targetted at the same demographic of people who bought the Leica X1. Many people said Leica X1 was overpriced, but still got people who buy X1 (if only for the red dot!).
The price of SGD 2300 implies that the FujiX100 is not targetting people who bought Pan/Oly m4/3, Ricoh GXR, Sony NEX, Samsung NX10 etc. Sorry about this opinion, but I feel the price speaks for itself.
THE NICHE
X100 niche is for a upmarket digital PnS with no interchangeable lens. Need to understand this niche. I believe there is a niche of camera consumers:
a. who are cash rich and suffer from GAS frequently;
b. collect analog RF gear (ie. M system or antique camera);
c. predominately use film;
d. need a digital PnS as backup to their analog cameras;
e. do not want to buy a digital M (M8 or M9) either because (i) it cost a kidney or (ii) digital depreciation is perceived to be not worth the investment;
People who fit the category above want a digital PnS that, although only a backup, can still show off.
Price for this niche is just in between:
(i) Leica digital M system; and
(ii) cheaper m4/3(Pan/Oly), GXR (Ricoh) or NEX (Sony) system.
There were many arguments about Leica X1, but essentially I believe the Leica X1 filled in the niche above.
THE PRACTICAL CONSIDERATION
First, my view is that Fuji X100 marketing folks should beware the secondary market. The price of SGD2300 may be a challenge if (i) new M version is released; (ii) supplies of M9 increase over time and (iii) more and more M8s enter the secondary market. The result is that digital M8 becomes a cheaper option as an entry level digital M, and M8 becomes a substitute for X100. The price of 2nd hand M8 is going to be moving close to a brand new X100. A cheap used M8 will become a viable option for a RF digital wannabe. This is not critical to the X100 demographic I described above, but it does affect the volume. This is my opinion of future. Only my opinion nia.
Second, my view is alot depend on the lens performance. For non-interchangeable lens, the lens is the be all and end all. If the reviews show that lens is no good, no matter how retro or nice the form factor, it is not going to succeed wan lor. By contrast, if lens is super good, then no need to have interchangeable lens!
Third, I am personally very interested to see how the Ricoh GXR A12 28mm module (due end of 2010) matches up against the Fuji X100. Both will be in market roughly same time. The 28mm module is a 35mm FL equivalent based on the cropped sensor. So it is going to be very similar to Fuji X100. The Ricoh platform will not have the retro form factor of Fuji X100, but Ricoh has a high customisable system which is familiar to many users. I will be particularly interested to see how the new A12 28mm module matches up against the Fuji X100 28mm lens.