I’m not so worried about the Leica S3 price. I think it is more important that there is an S3 because that will affirm Leica’s commitment to the platform. And S2 users will know, if the time comes, they do have upgrade options. As for the “S3”, or maybe a S2.2, my guesses –
1) Still CCD, same sensor, same pixel count
2) Expanded upper ISO range by 2 stops or maybe ISO 2500 as top, but a 2 stop improvement
3) Generally, cleaner output (evolutionary update of electronics)
4) Updated / improved auto-focus
5) A new rear LCD screen
6) New menu graphics
7) ISO in the viewfinder
8) A smarter / easier way to change EC
9) Elimination of the P vs non-P; presumably all will be “P” variants
10) Maybe 1/125th X-sync bumped to 1/160th
11) Rework the service / support packages
I don’t think current S2 users will be rushing to upgrade (unless Leica offers a really attractive trade-in program – doubtful), but depending on where Leica puts the price, maybe they will attract more new owners. I also suspect that a M10 with Live View and CMOS will cannibalize some of the S sales.
Whatever the case, I am looking forward to tomorrow’s announcements – whatever they may be.