Meh, just found the "gotcha" -- there's no manual focus ring on the pancake. Instead all manual focus is by a rocker, like the zoom lever. I guess I'd have to try it to see how workable it is, but I'm not too sold on the idea right off the bat. However, apparently that's one way they got the size down so small, was getting rid of the focus ring mechanism and instead just putting a near/far rocker lever on instead.
Yes, that's why those of us were saying blecch on the first page - because of Little Bobby's post about no manual focus.