Yes, it's quite like the Y strap, which I use on my Olympus DSLR. It's very comfortable but the excess strap (after adjustment) is super long if you aren't a tall person. Good thing with the Gordy straps is that you can specify the length, though comfort factor is something to consider carefully.
Agreed - if you're going to pimp out your LX3, it'll look far better with a neck or sling strap.
Agreed - if you're going to pimp out your LX3, it'll look far better with a neck or sling strap.

The neck SLING looks like an adapted version of that famous "R-strap" slide-up-&-down-contraption right?
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Was tinking of the wrist strap originally, but tink it'll look funny if I tried to sling my LX3 from my wrist with its adapter tube & wat-nots attached...on the other hand, the neck strap is rather expensive...ard SGD$60...& I'm unsure if the neck pad(an additional USD$13) is as good as neoprene...