I had the Summitar and found it to be an excellent lens.
If I was looking for a compact camera, I might look in another direction. Leica isn't the only game in town. There are many other possibilities, from early folding Kodak Retinas to a folding Zeiss Ikon Contina II to an Edinex with a collapsible lens to the Olympus XA or the Ricoh FF-1 to a Rollei 35.
This is not to say that a Leica isn't an excellent camera. But in today's world, there is no reason that you should limit yourself to one camera, one brand or even one format.