Well, there's already the Fuji X100 and Sony RX1, both with 35mm equivalent POV's and fast lenses. Assuming medium format would be the recently popular 44x33mm sensor, that would require a lens of f/2.54 or faster to provide shallower DOF and more light collection than the RX1.
[mini rant]For the first few years of the digital compact, "point and shoot" and "compact" were the same, but not anymore, even though many people still use them interchangeably. Cameras such as my X100 are far less "point and shoot" in character than your average DSLR, even though they are compact. But that's just my personal pet pieve.[/mini rant]