Doug,
Thanks for clarifying but I think you miss understood my intent. My point was that I would be interested in the SL1 because it is a dslr but is still very small. I wouldn't have to choose between a small point and shoot and a large dslr. Best of both worlds (although there is always a compromise).
OK. (IMO, your earlier statement could be read either way.)
Agreed, the SL1 fills an interesting niche on the scale of small P&Ses to large professional DSLRs.
I don't think I would bother putting L glass on the SL1 since the point is to be small and light, but I think it would work great with the nifty-fifty or the EF-S 18-55 as well the previously mentioned 40mm pancake lens.
Putting a monster lens on the SL1 (or should I say putting the SL1 on a monster lens...) doesn't make much sense but it is doable if needed. A small lens is a better match to its size and weight.
However, in terms of image quality (IQ) in good light, the SL1 is probably as good as any of Canon's other APS-C sensor bodies so one might be able to justify L glass in certain circumstances.
BTW, the Canon SX-50 (wide-range superzoom, electronic viewfinder) seems to be attracting a lot of attention among IQ afficionados... Might be of interest to some.
http://www.luminous-landscape.com/reviews/cameras/canon_sx_50_review.shtml
http://www.canonrumors.com/forum/index.php?topic=12154.0
Doug