I wonder - is the diffraction limit related to image circle, or just to focal length, or is it a combination of multiple factors? For example, in Micro 4/3, f/8 is probably the most you want to stop down before diffraction properly sets in. For VistaVision, it's f/16, or maybe f/11 to be conservative. But, I am not clear on whether this has to do with image circle or something else.
The implication is that if diffraction is related to image circle, then a medium format lens could be used on a Micro 4/3 camera, and you could stop down much more than you could on a dedicated Micro 4/3 lens of the same focal length.