Well if the OM-D line is going to be the flagship line then the sensors should be different from PEN lines IMO. I believe thats what DSLR makers do, and the mid to entry levels have the same sensor differentiated by extra features.

I don't think that's the only way to differentiate.

They could keep some unique OM-D features on the OM-D line, such as integrated EVF, 5-axis IBIS, weather seal, battery grip, etc.

I'm hoping the PENs will at least have the GX1 sensor, if not the OM-D sensor. Then no EVF, 2-axis IBIS but updated, no need for weather seal and no need for battery grip, etc.

Wouldn't it be more cost effective to source the same sensor across your cameras? You'll keep the Olympus quality while giving consumers choice based on body style and feature set.

Olympus may toy with the idea of merging E-PL and E-PM lines, or merging the E-P and E-PL lines.

Copy the Apple product lines!

Desktop, Portable --> SLR-like body, Rangefinder-like body.

Professional, Consumer --> E-M/E-P, E-ML/E-PL.

It saved Apple at a time of turmoil, perhaps it'll save Olympus too?

I ordered the OM-D in March @ B&H. Since the April availability date went to the right I cancelled this order and got a refurbished E-P3 (wanted to shoot the Venus transit and got it with my E-P3).
Since I own a VF2 I have no need to get the OM-D just because of the optical viewfinder. However, I found so much more options/settings on the E-P3 (i.e. 3D) I have to work them out before upgrading. The step from 12 to 16MP sounds great but is not this gap, with the fast primes the ISO question is not this hot anymore. Bottom line: I can wait and Im happy with my decision to get the E-P3. That does not imply that the OM-D is not a great camera, but I do not need it for now.

I'd look for the OMD sensor and the flip screen. That would really do it for me. I don't have a guess on the evf. They could leave it out for differentiation, or include it for value. I can't imagine they would include all three, it would make the difference with the OMD too small.

Between the Pen line up and the OM line up was the Olympus FTL which lasted only a few years. It had an m42 lens thread mount that had a unique locking mechanism that allowed for open aperture metering. The FTL was the stop gap camera line until the OM was released.

I went down to my local camera store and saw information on the E-M5 and decided to go home and read up on it. After spending a few evenings on the internet reading up on the E-M5, I went to my dealer and purchased my E-M5 sight unseen. Someone had ordered the E-M5 with a black body and changed their mind, so that left me a chance at purchasing one. I purchased it with a grip, 12-50, 40-150 and a FL600 flash. I have the Nikon D3s, and I find myself now using my E-M5 more than I do my D3s. I am finding myself being able to do everything that I was able to do with my D3s with my E-M5. I am not ready to give up on the D3s right now, but I can see myself in the future owning just the E-M5,

Isn't that the same thing? I am pretty sure that the OMD sensor is the same top of the line 16 MP sensor as GX1 except that as in the past Olympus manages to squeeze more performance out of it than Panasonic.
I would think the top of the line EP PEN will get the same sensor. There's no reason for Olympus to cheap out on the EP since they must make a healthy margin on them, probably more so than on the OMD. The lower priced PEN models may get the same jazzed up 12MP sensor Panasonic is putting into GF5. Of course, Olympus could just mess with Panasonic and put the OMD sensor into everything

Now that we know the sensor in the OM-D was not a Panasonic job, it's safer to speculate on 2012 Pens.

First of, the rumors say there would not be an immediate successor to the E-P3. Instead two new models will probably replace the current Pen Mini and E-PL3. Let's call them E-PM2 and E-PL5.

It makes sense for Olympus to utilize the same sensor as the OM-D. Those models shall compete with the latest GFs and GXs from Panasonic, so it makes sense to rival them in IQ. Apart from that, there is no need for more advanced OM-D features, like 5-axis IBIS or weather sealing. At least the Pen Lite should have touch screen, IMO. None of them with integrated viewfinders.

The interesting part is the future (2013) top of the line Pen E-P5. My opinion is that Olympus should make it a Pen equivalent of the E-M5, and price it accordingly. Even model numbers fit perfectly in the marketing scheme. So the E-P5 should have everything the E-M5 has, but in a Pen body.

My reasoning is that such a model should not steal sales from the E-M5. First of all, a lot of people expressed a preference to the Pen body format. A top of the line Pen should have the integrated EVF at the left side, controls reminiscent of the Pen F or Pen FT, etc. IMO, no internal flash, while I'm not sure about weather sealing.

The second reason I think a high-end Pen would not antagonize with the E-M5 is that, at the time of introduction the latter will be in the market for enough time to warrant a follow up. Indeed I guess mid 2013 would be a great time for Olympus to introduce the "pro-level" E-M7, with newer sensor tech and a number of pro features.

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I'd like to see a flagship Pen that goes the route of a Nex-7 with a built in EVF in a smaller body.

I doubt the next Pen will have the 5-axis IBIS... simply because the system requires that faux mirror box on top of the OM-D. So that's one exclusive for the E-M5. Weather resistance can be another. Plus the Sony sensor.

What I personally want in the next top-line Pen is both a built-in EVF and built-flash... and a sensor on the level of at least the G3/GX1.

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Panasonic G5 and Panasonic GX1, Lumix 14-45mm f/3.5-5.6, Lumix 45-150mm f/4-5.6, Lumix 100-300mm f/4-5.6, Lumix 14mm f/2.5, Lumix 20mm f/1.7

Olympus E-PM2, Zuiko 9-18mm f/4.0-5.6, Zuiko 14-42mm f/3.5-5.6 II R, Zuiko 14-150mm f/4.0-5.6, Zuiko 40-150 f/4.0-5.6 R, Zuiko 15mm body-cap lens, Zuiko 17mm f/1.8, Zuiko 45mm f/1.8