Ten RAW Images
High speed ftw! A quick $12.99 sale price later, and the LX2 is somewhere between 25-30% faster on RAW capture. Thank you OCZ and thanks Gary for the hint!
To my surprise, shooting time for ten "high quality" JPEG images remained about the same -- around 20 seconds -- indicating to me that for compressed pix, the limiting factor is the speed of the "Venus Engine" processor itself.
Addedum: yesterday saw the publication of dpreview's test of the Sigma DP-1 which is probably the closest competitor to the LX-2 and considered by many, in anticipation of it, as the compact streetphoto heir apparent. To my great surprise, the Sigma is significantly slower than the LX-2 -- the only got a little over 7 seconds per frame in RAW while the LX-2 turnaround was only 4.5 seconds (even faster than what I was getting). The Sigma does have a three-frame buffer, though it's not clear to me if you can use it in regular shooting mode. And a hotshoe for Martin Parr & Bruce Gilden fans.
Addendum #2: And on the heels of that, another review lamenting the DP-1's lack of speed, this time by Edward Taylor on The Online Photographer -- "My main complaint about the camera then was that it was painfully slow. It was and it is...." Hmmm.