Funny that these should pop up (Leica SLR threads) just as I was "tracking" some on eBay. I too was intrigued by the affordibility of such high quality hardware, a little lured (I have to admit) by the legendary name (shame on me, I know...).
Well, the verdict for me is this - as I wrote in the other thread, I can't afford the lenses. Perhaps they are better than Canon/Nikon/Minolta, whatever brand x you may use - but they will never make up for the fact that for the price of one lens I can build a rather capable system of, lets say, Canon FD lenses. And the lowest quality picture (I know I am repeating myself, indulge me) is the one you never took, because you didnt have the lens to catch it with.
But, if money was no object...