I bought a new compact camera earlier in the year and spent a while deciding between the LX7 and the RX100. In the end I decided the only real downside to the RX100 was the cost.
One personal drawback to the LX7 was the added depth over the RX100, which makes it a fair bit less pocketable. The RX100 is just about small enough to comfortably fit in my jeans pocket, whereas the LX7 is about a cm deeper and wouldn’t be. I was after a camera to use when I didn’t want to lug my DSLR around, so this was a dealbreaker for me — the last thing I wanted was to have to put my ‘small’ camera in a bag too. The separate lens cap on the LX7 was also faff that I wanted to avoid.
I went with the RX100 and love it – no regrets. In fact it’s so good, I find I use my SLR quite a lot less now.