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Overall, the X-T1 is one of the best you can get for street photography and vast variety of serious usage. Fuji has done it right in just 2 years. Many said X-T1 is the retro design done right. The only direct rival will be Olympus OMD-EM1 & the new Sony A6000, which i found equally attractive as well:
Both EM-1 and A6000 has super fast, close-to-DSLR snappy focus and responsiveness. and EM-1’s 5-axis IBIS which effectively allows you to use 2 stop lower ISO, compensating the higher ISO noise and lower resolving power disadvantage of m43 sensor compared to APS-C sensors. A6000 is very attractive too in its cheaper price tage with APS-C sensor and superb autofocus, however slightly inferior choices of E-mount lens and and Retro style lovers will simply do not like its “high-tech” appearance.
For me, the one overriding reason of choosing X-T1 over EM-1, is the much bigger size of bokeh using its great primes with APS-C sensor, unbeatable by any combination of m43 lens. The closest is the new Panasonic Leica DG Nocticron 42.5mm F1.2 ASPH. Still, when compares to the 35mm eqv. Fuji XF 56mm/f1.2, it produce considerably smaller bokeh due to sensor size. (Fuji 1.2×1.5 VS m43 1.2 x 2) The Nocticron is also bigger, heavier, and MUCH pricier.
and choosing X-T1 over A6000 ( same sensor size with cheaper price and faster AF), primarily because the very solid lens lineup of Fuji, the more pleasure image outcome of X-trans (subjectively), and my preference of Retro design over the High Tech Sony style.
What about the Full-frame Sony A7/A7R? well its another gorgeous camera too, but much more expensive and lens line up is weak (although you still have the superb 35mm and 55mm/ f1.8 prime). The 36mpix is breathe-taking, like a Nikon D800E in a small/cheaper body. but there are other weak spot compare to EM1 and X-T1, even A6000. If you have a brunch of good manual lens e.g. Leicas, Zeiss, Voigtlander, the Sony will give you a lot of fun plus serious image quality. Afterall, A7R and D800E are still the two topmost image sensor as today. A bigger question to ask yourself though, is can you distinguish an A7(R) image with X-T1 image?
For me, X-T1 gave me the best balance of all variables.
Update: If you like a rangefinder form factor like X-Pro1, more than X-T1, I will suggest you wait for the up-coming X-Pro2 😉
More perspective on this: SteveHuff – great review as always Fujivsfuji – side-by-side spec table of X-Pro1, X-E2, X-T1 DPreview – solely on X-T1 but very thorough as always OnlinePhotographer – review with different testimonials Zackarias – detail review 1st impression of X-T1 TechRadar – another detail review of X-T1 Finally, my flickr album for more photos here.