Weaknesses: No through-the-lens optical viewfinder; can be expensive; fewer lenses available than for DSLRs; still a bit bulky for everyday use

If you can live without an optical viewfinder, these interchangeable-lens cameras offer most of what a DSLR offers in a more-compact body: a large sensor, fast mechanical shutter, swappable lenses, noticeably better image and video quality that your average point-and-shoot, and manual controls.

The lack of an optical viewfinder is a byproduct of these cameras' smaller size: by eliminating the somewhat large mirror box that lets you frame your shot through the lens, manufacturers were able to make these interchangeable-lens cameras more compact.

One of the main problems is deciding which of the emerging compact interchangeable-lens formats to buy into, because like DSLR lens mounts, they're incompatible with one other: Panasonic and Olympus both use the Micro Four-Thirds System lens mount, but not all Micro Four-Thirds lenses are compatible with both companies' cameras; Samsung's NX10 uses its own NX lens mount; Sony's NEX series uses the E-Mount system; and other companies are bound to release their own interchangeable-lens compacts.

Because this is a newer type of camera, there aren't as many lens options to choose from, either. Adapters are available that let you use full-size DSLR lenses with these cameras, but they often cost a hundred dollars or more.