There has already been a lot said on this camera so far so I'll only add a few things. I have never owned an SLR type camera so this was a new experience for me in fact, after owning the camera now for a month, I am finally just figuring out how to use it to its full potential and its potential is very high.
First, let me say that this camera is an excellent value 8 megapixels and packed with features, including the wonderful super sonic wave filter (which removes dust from the digital sensor). The Olympus line of Digital Zuiko lenses are fantastic, including one of the kit lenses (40-150).
A word to those folks like me (new to the SLR world) to clear up some confusion: a few of the reviewers have mentioned "bad low light performance." This is not a camera issue, it is more a function of the lens that is attached (or, the speed of the "film" (AKA sensor) that you have the camera set too). Without getting into too much detail, kit lenses included with all of these entry-level DSLR's are not exactly the best in low light situations they are referred to in the photographic world as "slow" lenses meaning that the aperture values they have at the low end are really only good in sunny conditions at least without setting the camera to a much faster ISO (or film speed setting). So, in other words, the guy that said he is returning his Olympus to go get the canon kit is going to be just as unhappy with the performance of that camera in these situations as he was with the Olympus (from what I've read on the professional reviews of the canon, the kit lens is possibly the worst of all the major manufacturers). Blurry pictures are NOT the camera's fault they are the user set the ISO higher to get a higher shutter speed or buy a lens with a "faster" aperture. This is the same with all cameras.
So where does this leave one who is interested in purchasing this camera, well there are two options (at least in my opinion):
1. Buy the 14-45 and 40-150 kit. This really is an excellent value, and while the 14-45 lens isn't bad (it's very good outdoors), the 40-150 lens is fantastic. Search any major review especially those folks that are enthusiasts about olympus and they'll tell you the same this lens is remarkable for the price. However, if you do buy this kit (like I did), and you're planning on taking a lot of pics indoors or in low light situations, do yourself a favor and upgrade to the 14-54 f/2.8-3.5 Digital zuiko lens. This is the kit lens for the professional Olympus DSLR the E-1. I purchased this recently and the difference is night and day compared to the kit 14-45 f3.5-5.6. The camera has no issues in low light situations, and the "speed" of the lens is fantastic. (BTW, I bought this off of ebay for $400 I think amazon has it for about $430 with free shipping so it's probably a toss up. (this price BTW is much cheaper than upgrading to comparable lenses of competitors like canon and Nikon remember, you're going to have to do it no matter which camera you buy if you want good indoor/low light performance).
2. If I had to do it over again, I may have just bought the body. Save yourself $200 and just buy the e-500 body. Then take that $200 and apply it to the price of the 14-54 f2.8-3.5 lens this would put the total purchase around $1000 and you'll have a fantastic lens to really learn how the camera works in all situations. So how do you get the great 40-150 lens? I noticed that there are probably 10 on sale on ebay at any given time (from people that are upgrading to the absolutely wonderful 50-200 digial zuiko zoom) for around $100-125.
Whichever option you choose, you really can't go wrong this is a wonderful camera for a beginner or serious amateur in SLR photography.
Good luck and welcome to the olympus family!
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