This sounds pretty crazy. How could a 1/1.7-inch sensor compact compete against APS-C 1.6 crop factor DSLR, the Canon 7D. They look at the differences from physical perspective, focal lengths, aperture size, night modes, and videos. Check this review out.
Their conclusion: After two weeks on the road and hours of analysis, my conclusion will surprise nobody who knows me best. I have ordered an LX7 to add to my photographic arsenal and there will be days where that is the only camera I carry. When I’m out touring the entire day, I will supplement it with my 7D with a single long lens and leave the rest of the gear behind. With this combination, it is possible to have the best of both worlds