Bill, Thanks for the pics of the adapter! The rear side shows that this is a high quality adapter (I have not seen the Novoflex one). That little black disc (thin aluminum or plastic?) is very very important and takes care of the shiny metal parts (RF coupling and other bits) and the reflections thereof from the Leica mount lenses (this is a major headache leading to loss of contrast and even occasional color fringing and the like).
Your test shots already illustrate that it is a good one!
Oh, another aspect of the rear ring is that it addresses the compatibility question of Leica lenses.
If a lens fits the adapter then it won't cause any troubles with the G1's shutter!
Clever design!