I have toyed with the 4/3 digital SLR system several times since it was introduced in 2003, shrugged my shoulders and gone back to Nikon or Canon. Frankly, I had about given up on 4/3, but Olympus dropped the E-3 on us a few weeks ago and showed us it could be all they promised with 4/3 when it was first introduced over 4 years ago.
ANY DSLR system is about lenses in the end, and Olympus 4/3 is blessed with superb optics. To get an idea of how really great the new Olympus glass is you need to use some of the top lenses, or read a few of the big photo sites like dpreview, imaging-resource, or DCRP. They have all finally acknowledged in reviews of the E-420/410 and E-520/510 that Olympus has the best quality kit lenses of any camera maker, and that the Olympus claim that lenses designed for digital produce better quality images is proving to be true. even went so far as to test most of the current Olympus lens line after being so impressed with the kit lenses on the 510/410.
Olympus 4/3 is also by design an all-electronic lens mount like Canon. Reviewers on the web tend to be so Canon and Nikon biased that they often forget really basic things like this. The 4/3 system has all motor driven lenses, and the lenses were ALL designed for digital photography. I am frankly tired of seeing reviews that talk of Canon as if they are the only company with all motor lenses. There are actually 3 Canon, 4/3, and Sigma although some of Sigma's other features are archaic and sales are very low so most just ignore them. Sony/Minolta and Nikon are not similarly blessed with an all-electronic lens mount, and many lenses are still noisily driven by screws on the lens mount in both systems. In fairness, Nikon has been moving rapidly to motor-driven lenses, but Sony seems stuck in their noisy and slower screw-drive AF even though they have used lens motors in a rare few long telephotos. The point here is that the 4/3 mount at least matches the best, and it is better than most.
The Olympus issue has never been glass or lens mount , it has really been the options you had (or rather didn't have) in camera bodies to use with this excellent Olympus glass on an all electronic mount. As great as the current E-410 and E-510 really are, they are still saddled with an ancient and not particularly low-light sensitive 3-point autofocus system. Shooting in truly low light was all but impossible and your Olympus searched for focus while Canon, Nikon, and Sony locked on focus. There just wasn't a choice of anything better from Olympus. That is until the E-3.
The E-3 takes Olympus AF from Sigma territory to state-of-the-art, and as soon as the new 11-point, all cross sensor, dual-plane AF module makes its way down the food chain, no one will ignore Olympus any more. I hope Olympus can also find a way to move the terrific E-3 feature of AF with manual touch-up down the food chain as well because the other big Olympus issue is that stupid "Manual focus by wire" feature and Manual Focus select by menu and it is mostly fixed in the E-3.
This time around I bought an E-3 and a 12-60mm and the tiny little excellent-quality kit lenses for when the 12-60mm weighs too much and I can compromise just a little on quality. I have added other Olympus equipment to my E-3 system quickly, like the unique 70-300mm (140 to 600mm equivalent with 1:1 Macro), the superbly sharp little 35mm f3.5 Macro that does equivalent TWICE life-size macro right out of the box, and the E-3 grip.
I am completely and totally impressed with the E-3. All the lenses are designed for 4/3 mount and for best performance on a 4/3 camera they aren't 35mm film designs. No other camera offers the combination of effective live-view, built-in image stabilization, the best auto sensor cleaning you can buy, an articulating LCD that can fold away for protection (AND a top LCD for basic data), a built-in pop-up flash, effective dust and splash sealing of the camera AND the lenses, a popularly-priced zoom that covers the equivalent of 140mm to 600mm and does Macro up to equivalent life size (70-300mm), MUCH improved noise reduction that goes to ISO 3200, user-programmable Auto ISO that can cover the full ISO range (Canon still stubbornly refuses to fully offer this option), and the best range of available lenses DESIGNED FOR a digital camera system.
The E-3 is a bargain for a true PRO grade camera and it is easily built as well as the Nikon D3 or the top Canons which are $5000 or more. You will get real value for the $1699 you spend on the E-3 body compared to any competing system from any company. However, most will find the E-3 expensive unless they are serious photo hobbyists or Pros, and Olympus needs to move the E-3 refinements down to E-510 price levels as fast as they can.
The E-3 is a great piece of creative engineering, an area Olympus is known for. After all they invented auto-sensor cleaning and live view which is now finding its way to every DSLR. This is the best Olympus camera EVER, and once you have used it you will be hooked.
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