The Leica X-U has been released, much the same as the rumors. You have known almost everything from the leaked photos and specifications. One should say there is no secret in the world. Secret agents are everywhere.
The main selling point is the rugged body, much larger than other point-and-shoot cameras such as the Olympus TG-4 on the market. I have not used any rugged camera before and so not fair to give any judgement. But from the size, they are of different beasts: Olympus weighs only 247g and the Leica is almost three times heavier. It depends on whether you think weight is an issue for carrying it along for one whole day.
One thing clearly X-U appeals to me is the flexibility of taking pictures in the rain or in extreme weather condition. The camera should be made to take picture, not for display. The Leica X-U praises its own capacity in “windblown snow, sandstorms or torrential rain”. And says “the X-U is the perfect companion, even under the toughest conditions”.
Of course we still need to see some sample pictures from the real world. This is a good news for those who are afraid of getting the Leica M wet. The Leica-M has some weather sealing, but definitely not waterproof. The M lenses are still vulnerable to rains and snow. We need to take special care and wipe off any water drops on the camera.
So at the end the Leica X-U may make sense if you are a all-time outdoor Leica user who is ready to face any challenges.