I bought this for my wife to replace her Canon Powershot S50 and as a backup for my DSLR (for when I don't feel like lugging around a heavy kit). Overall I have been impressed with the camera especially the picture quality. JPEGS are excellent (sharp as well as vibrant) and reduce the need to shoot RAW. The controls are OK - I tend to shoot manual exposure a lot and just about manage with it although some dials/wheels would be useful (like the E-P1/2). Focus speed is acceptable for me. Basically, anyone coming from compact cameras will be perfectly happy but anyone expecting mid-range SLR focus speed is going to be disappointed. My main advice to Olympus would be to make the camera even smaller (like the Sony NEX-3/5)!!
Does it replace my D700? Absolutely not but it is a perfectly acceptable replacement for when I don't want to carry the bulk of the D700.
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