Illness and other distractions have allowed limited additional tests of the YI camera. More informal shooting with the 14-42ii OIS lens on the M1 and GX1 has convinced me that Lumix OIS lenses are not supported by the YI camera. A user at DPReview claims to have heard from YI that only lenses with an OIS switch can be used to stabilize M1 images. Sadly that is consistent with my test results. The GX1 view stabilizes with the shutter half pressed with OIS lenses and M1 view does not. It's possible to assemble a good kit with switched lenses - but I'm not about to change what I have for a different kit just to make the M1 more usable. It's therefore up for sale.
This comes without any formal work on raw images to test the value of the 20Mpix sensor. Images from the M1 do not radiate great vibes any more than other cameras' images that I have used, so I feel no hurry to check the deep detail.
Overall I like a lot of the M1 features. It's a decent camera with many cool features. I don't need another decent camera, however: I feel that the K∙50 and GX1 are comfortably in that category already. Given the extent of my K-mount lens the µ43 gear can remain as-is; the GX1 is plenty good enough for all video work and plenty of nice stills with the 14, 14-42ii and 45-150. Since anything I feel like adapting from the Pentax side will work too, I feel that I'm sitting pretty!
postscript ~ maybe, just maybe?
Given no interest in the M1 thus far, praps I will seek a 14-45mm to go with it. Or a 14-140?