I bought the EPL5 for my GF a couple of weeks ago. She had taken to stealing my OMD claiming her EP2 wasnt up to it. She loves the swivel LCD and never uses an EVF so it's ideal.
And really the last person to write a review of the EPL5 should be an OMD owner. Its greatest asset is the OMD sensor and image quality and it is the last thing I was interested in. I did think Olympus could hit a home run with these Pens - the popular Pen line combined with the OMD sensor. I feel slightly underwhelmed but maybe that is the OMD owner talking.
First what is there to like....
1. Focus. Super fast. Same as the OMD I would say. Cant tell the difference.
2. Focus point can be changed permanently to a small box. Big improvement.
3. AEB bracketing can be programmed to one of two buttons as a toggle on or toggle off.
4. Toshiba FlashAir SD card wifi works very well with Oly App. Quite a lot more about that here.
Wifi card options for M43 cameras (mostly olympus)
5. IBIS can be set to 'lens stability priority' meaning use of Panny OIS on the EPL5.
So what dont I like so much.....
Well I dont think think the in camera IBIS was upto much before and I doubt it has improved. Here is a video (which I also posted earlier in a different post) comparing it with OMD IBIS.
Watch - Olympus OMD V EPL5 IBIS - ProShow Web
But it is the LCD that for me is really disappointing. It is pictured below...
Now if you own the EPL3 you might wonder what I am going on about because it appears exactly the same.
If you have the OMD you can notice two things. The first is that the image within the LCD is very small, 30% smaller than the one on the EM5, while the LCD itself is exactly the same width as the EM-5. The EM-5's LCD is 0.25" taller so 10% bigger with a 30% bigger image.
But the LCD on the EPL3/EPL5 is shorter because it has to fit those 4 playback buttons? Yes that is true for the EPL3. But the EPL5 has a touchscreen, so the playback buttons are mostly redundant (playback itself could be moved to the wheel or to the left of the hotshoe.)
Really the whole 4:3 image in a 16:9 LCD is pretty irritating and bringing in a touch screen gave Oly the opportunity to get rid of some buttons and free up space for a decent size screen. To me it looks more like laziness - easier to stick with what they had - or maybe funding rather than design that they have stuck to the old layout.