Is the new Panasonic Lumix DMC-LX3 a sign of the end of the megapixel race?

As it happens, just as I wrote about the increasing megapixel competetion in digital cameras - making them more noisy all the time - Panasonic today announced a new LX3 camera. The specs include: a ten-megapixel 1/1.63 inch sensor, a wide 24-60 inch lens with 2.0-2.8 max aperture, a new processing engine etc. If this camera works as advertised, it certainly interests me. But Panasonic has a history of noisy cameras, so the claims have to be tested before trusting. In any case, LX3 is a good indication that camera manufacturers may have seen some sense finally.