These large-sensor interchangeable-lens cameras (like Micro Four-Thirds as well as some others) are better seen as a miniaturized DSLR than a point-and-shoot. They will never be as small or pocketable as current point-and-shoots, since covering their large sensors requires a much larger lens (though not quite as large as in a DSLR). They are also just as expensive as DSLRs and are likely to remain so.
The focus speed issue is not easy to solve, since DLSRs use a submirror to direct light to a phase detection system, which can be very fast. Since the MFT camera has a sensor size comparable to a DSLR, longer focal lengths are required than those used in point-and-shoot cameras, which has the effect that focus accuracy is crucial. The lack of a mirror assembly for phase-detect autofocus, combined with the large sensor, means that these in-between cameras will be the slowest to focus. That can easily cost you the "moment".
All that being said, they ARE a lot smaller and I want one.