Kodak introduced a line if cameras called 'Instamatic
', that used a 126 film
cartridge. These cameras were quite affordable and quite popular for several years. There were even SLRs that used the 126 film cartridge.
Kodak also introduced a line of cameras called 'Pocket Instamatic
', that used a 110 film
cartridge. These were also affordable, popular and there were SLRs available that used the 110 film cartridge.
The films for these cameras areno longer available, so all these very popular cameras are now useless.
Your film isn't going anywhere. The camera and the lenses will continue to work, and general purpose accessories will continue to work with the G1, even if the Micro Four Thirds product line disappears. For the foreseeable future, you will be able to buy filters that will work with those lenses, and you will be able to buy memory cards for it and use those memory cards to move images from the G1 to your computer.
If the G1 is already everything you want in a camera, buy it.