As of this month, B&H, Adorama, and most other sizable photo stores in the US no longer list the Olympus E-5 or show it as discontinued. There are a few who continue to hold out hope for an E-7 later this year, but that's looking increasingly unlikely. Since the E-5 has been the only 4/3 camera in production for several years, that means we're seeing the end of 4/3 mount cameras. At the same time, it looks as if with the release of the higher-end OM-D and its support for phase-detect AF, we will finally see a m4/3 camera capable of taking full advantage of existing 4/3 lenses. And really, I think the lenses were always what made 4/3 interesting. If you wanted compact, high-quality zoom lenses at a reasonable price, there wasn't anything else like it. The 14-54/50-200 pair is a case in point - 2 high quality lenses weighing just 1.4 kg that got you from 28 to 400mm equivalent with a max apertures <= f/3.5. Unfortunately, Olympus never made any bodies that took full advantage of these lenses. If you wanted weather-sealing, a good viewfinder or decent S-AF, your only choice was their high-end E-3 or E-5. If you wanted a camera smaller and lighter than a full-frame DSLR, you were limited to the E-4x0, E-5x0 or E-6x0 cameras. If you wanted competitive dynamic range and resolution, you were just plain out of luck. I think the E-M1, assuming the S-AF lives up to the hype, will change all that. It won't just be the first small, well-built Olympus body to offer competitive image quality, weather-sealing and a reasonably-priced line-up of high-quality zoom lenses - it will be the first camera from any manufacturer to do that. Even ignoring the weather-sealed aspect, nobody - not Canon, not Nikon, not Pentax and not Sony - offer zooms with a comparable combination of quality, speed, range and price that Olympus 4/3 does. Clearly, a lot of folks here think 4/3 lenses are too large and clunky to make sense for m4/3 cameras. That said, I think there are a good many folks like me for whom the size is a reasonable tradeoff for quality, convenience and speed. For us, the replacement of the E-5 with the E-M1 actually will mean that 4/3 is a lot more alive than it has been. (To be clear, I'm talking about Olympus's 'HG' lenses - like the 11-22/2.8-3.5 and 50-200/2.8-3.5. Their 'SHG' lenses - the 14-35/2, 300/2.8 and so forth are a different story. I don't think they make sense for m4/3 even on an E-M1. But I don't think they ever made sense for 4/3 either. Their 'SG' lenses - basically consumer zooms - have been ably replaced with native m4/3 variants).