This is Leica's winningest price/technology ratio to date. In fact, the new S is just double the price of the competing Pentax.

S Typ 007 benefits from Leica's amazing lens range, greater dynamic range than previous, better high ISO performance than before, WiFi tethering, live view, video, and more.

For full spec, head to Leica Camera - Leica S

Below are a couple terse hands-on reports from reliable sources:
DPReview - Hands-on: Leica claims fastest in the world for its new CMOS S (Type 007)
Luminous Landscape - A New S Takes Center Stage

And then there is Leica's inevitable marketing faux pas: a 720p YouTube video intended to show off the video capabilities of the S Typ 007, a 4K-capable camera: