The X-M1 introduces a three-inch tilting display and built-in Wi-Fi for easy image file transfers. The new, simplified camera body doesn't have a viewfinder to stick your eye in this time around.
What people are really going to like about the X-M1 is the cheaper price tag. The body alone will go for $700. The X-M1 will come bundled with a 16-50mm (24-76mm equivalent) f/3.5 lens for just $800.
That's considerably cheaper than previous interchangeable-lens models from Fujifilm.
It's not uncommon for companies to tweak around with feature sets and offerings to try to find the magic combination that'll make a camera sell. Since we've had the chance to review some of the previous configurations of the X-M1, we can tell you what we already know: The image sensor is capable of gorgeous photos. On the other hand, in previous cameras, the autofocus and HD video-recording performance often left us desiring more.
At this price-point, though, the X-M1 is going to be very enticing to people who found buying to the Fujifilm system too expensive in the past. Here, you're getting everything you need to get started. If you want more in the future, it's there for you.