Shades of grey are created by tilting the mirror backwards and forwards thousands of times a second to vary the brightness of the pixel it is projecting.
So... hyperbole aside, the FX30 is thin and features a 3.6x LEICA DC VARIO-ELMARIT optical zoom lens, 7.2 megapixel CCD, Mega OIS optical image stabilization, Venus Engine III image-processing for shooting at ISO 1250, and a 2.5-inch 207k pixel LCD (the L74 throws down 230k pixels) with "Power LCD" to boost brightness by 40% (at the expense of battery life) when outdoors.