But is there a benefit to the BW translation?
Firstly the M mono isn't an M9, in fact it stands on its own as though it has similarities to both the older M9 and the newer M (240) its a very different beast from what I've seen not least of which is that there is no mono conversion as the sensor itself only records luminance, ie its a black and white only sensor.
Obviously as it doesnt have a bayer array it doesn't need or have an anti ailiasing filter either the same as the X-Pro1, this amongst other things has apparently allowed them to really push the ISO's through the roof, even further than Fuji.
Lets face it its kind of like an X-pro owners dream, a full frame camera without the AA filter, its just that its mono only and for some thats a huge turn off.
Not for me, I would love a FF mono only camera, but thats just a lottery dream.