For a while now, I have been looking for the ideal replacement for my E-M5. I've tried NEX-6 & X-E1, both pale in comparison to E-M5 despite having slightly better IQ. Very hard to top E-M5 as its an all-rounder & excels almost at everything. When E-P5 came out recently, I fell in love with it instantly. My 1st M4/3 camera was E-P2, so maybe I'm being nostalgic too. Anyway, despite having better features, its just too expensive. Refuse to pay that much, I scouted for a used set. Finally got one with 17mm kit & saved myself around US$200 over buying new one. Once reached home, the bad boy ripped through its box & went looking for E-M5 in no time. The EVF is just amazing, it is as big as the one in 1Dx and better than the one used in NEX-6 & A99. For some people, built in EVF is important, it doesn't bother me at all. In fact I love the ol'skool look of the top mounted viewfinder. Then again, its always better to have built-in EVF instead of crappy pop-up flash. I almost never use the E-M5 add-on flash. Since you like flash so much, E-P5, You can have it!! Those new black lenses are nice too. The silver cameras look good in either silver & black. So tough choice here. E-P5 is fast...Very fast. Both AF speed & shutter response is slightly better than the E-M5. Especially with the quick shutter release mode that pre-cock the shutter. Having 1/8000 shutter & ISO 100 means I no longer need ND filters on my primes when shooting on a sunny day. I like the GX7 too, but no IBIS in video is a deal killer for me, which is my single most used feature on E-M5. E-M1, on the other hand, maybe too expensive if the rumored price is right. The built-in VF-4 & specs are great. But we'll have to see how it turns out. So is E-P5 the best camera to replace my E-M5? Maybe yes? Maybe no? I cant decide yet. For once lets forget about which body is better & stop fighting among ourselves. Cheers!