kanzlr, I'm too skeptic about the quality of photos provided by tiny CX3/P10 sensor. But I fully understand why Ricoh invested some time to design and manufacture this module.
At first, it's relative easy way to bring users small and relative "long" tele lens. It would be much harder to do the same with larger sensors. Even the 1/1.7" used in S10 is too big for 300mm lens. The resulting lens with such sensor would be big too big.
In addition, it's very reasonable and understandable to recycle the existing technology (like CX3 or GX200) to GXR modules. It's much easier than to design whole new modules. And it should give Ricoh some extra time to design and produce some more advanced modules.
And finally, CX3/P10 has some unique features, not available in larger sensors (like super high speed continuous sequence or HDR). So despite my initial doubts about this module, I can see why it can be attractive for many GXR users. The initial P10 samples looks visibly better than CX3 samples so there was done some extra effort to extract maximum quality out of the tiny sensor. And RAW is major advantage as well. It's not meant to be a main GXR module, but rather an accompanying module for existing GXR users who want something with longer lens, but don't want to mess with yet another camera (CX3). And also for users who cannot live without RAW