The folks at Imaging-Resource.com have published an excellent image comparison test with the Canon G1 X
The lab shots were captured at base ISO and then at ISO 1600 and ISO 3200. You can read the report and see all of the photos here: Canon PowerShot G1 X Preview.
Bottom line: The Canon G1 X definitely held its own, or surpassed, all of these cameras in this test.
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I think if Canon used that sensor in a mirrorless interchangeable lens camera, they would make a killing, particularly with their reputation.
It just seems a shame to waste it with that lens.