I did my best yesterday to hold off on commenting about the Olympus EP-1 that was officially announced today. It is indeed a very sexy camera. By yesterday I had already seen quite a few leaked photos and I noticed quite a bit of talk on the flickr.com group forums, but I decided to hold off until the official announcement today.
First off, I will just come out and say that I think this is a very appealing camera. I haven't touched it yet, but I can sort of get an idea from the photos and the really almost comical video on the Olympus site that this camera is probably just about the right size. My Panasonic DMC-LX3 is nice and tiny, but when I'm shooting seriously with it, the controls tend to get a little lost in my hands. There is sort of a delicate balance here between compactness and usability--reminds me of Zoolander's cell phone.
I could go on and on about this cameras specs and buttons and features, but what I'd really like to talk about is how the EP-1 is a camera which seems to be headed in a new direction. Micro 4/3rds has been on my radar for a while now, but I have been pretty hesitant to give it much thought up until now. It will really be interesting to see what camera manufacturers do with this format in the near future.
As you may notice I am a big fan of small compact cameras. I am basically waiting for something that will be the equivalent of a Leica M. The M8 to me was a big disappointment. I think Leica spent way too much effort trying to make the thing look and feel like an M and forgot about creating a camera that was really worth $5500. In the end it's all about the image, and the M8 failed to deliver in that area. Talk about "less bang for your buck."