I searched and can't find a discussion of this. I love the thing. Anyone know the reasoning and if this is the way it's going to be?

They have retained the appearance of the "style element" of the mode wheel, but its function has been replaced by a slide switch on the top left side of the camera. There's really no way to know if this design decision will carry over to the XL version of this camera. I think it will. But I don't know that for a fact.

I can't find the slide switch in the photos or manual. According to the manual, Spotlight is now in the Light Metering sub-menu of the Camera Menu. There's an Iris Auto/Manual switch at the back of the lens and a "Full Auto" On/Off at the back of the body. I'm scratching my head about the P, Tv and Av semi-automatic modes.