Would anyone in their right mind contemplate spending £530 or so on a compact camera that doesn't even have a zoom lens? Why, for that money you could buy a decent digital SLR. The Ricoh GR Digital III had better be something pretty special.
Two things might stop you considering the Ricoh GR Digital III: the price and its fixed-focal-length lens. If you can swallow those, you can look forward to a camera with levels of build, design and image quality that really set it apart from the rest
Great build quality and finish; excellent lens performance; straightforward, hands-on controls.
High price; fixed-focal-length lens; adjustment lever can be fiddly.