[adan]

Assuming the "S2" is real - there is no reason it has to stick with the slow scanning mechanism and bulk of the S1. There were big leaps between the Digilux, Digilux 1, Digilux 2 and Digilux 3 in operation and form factor (we'll leave aside whether there were "improvements").

Bigger singleshot sensors and compact fast 32 Gbyte storage cards (or even tiny hard drives) delete the need for tethering and slow scanning operation.

I.E. the name likely refers to heritage (high-quality, flexible digital that has little to do the with the former "35mm" paradigm except some lens compatability).

I can easily imagine a very portable, even hand-holdable "middle-format" camera that uses live-view (perhaps, or optional - don't panic!) plus a prism finder (removable) to capture, in different formats, images from M lenses, R lenses, and perhaps a new line of wider-field S lenses.

As a rough guess to form factor - perhaps the look and feel of a classic Hassy with a Polaroid back. Maybe configurable with external finders (prism removed) for use with wide lenses a la Hassy Superwide. Mount an R 19mm or M 21 (f/1.4 anyone?), crop for a 30mm x 30mm area of the sensor (adjustable cropping in camera has been around since at least the Nikon D2x) and - voila - Superwide digital at 20 megapixels that even the original Superwide can't (yet) duplicate.

Or flip it around, put the prism back on, set cropping for 24x36, and it can shoot sports with an R 280 f/2.8.

Pop on an S lens, turn off the cropping (40-50 Mpixels 36 x 48? I'm just roughing in the math here) and shoot studio fashion (with electronic moire reduction for fabric). Hand-held or tripod as appropriate - tethered to a computer IF that's what works in that situation.

Jeez - I'm so excited by MY conception of what the "S2" could be that now I'll probably be disappointed by the reality - which may just be a rebadged Leaf body.

(Edit) I'd also just point out that an S2 making use of live-view is actually a much simpler camera to build than an SLR - no need for the mirror mechanism with its fiddly levers and springs and cocking gears.. Just a box with a lens mount on one end and a sensor on the other, plus electronics, which can be modular assemblies farmed out to Jenoptik.