What an absolutely cracking little camera this is. I've had quite a few compact cameras in my time from the G10 to G12, Panny GF1 and GH2, Leica X1 and Fuji X100, and the EM-5 is the best yet in my opinion. My main concern with most of the above has always been the focus acquisition time - although they are all very accurate at nailing focus, most of the time, the time taken to actually acquire focus in the first place has always been a bone of contention for me. In this regard, the X1 and X100 were the worst. I'm pleased to say that the EM-5 with the 12-50 lens is very very fast - in fact, I wasn't quite expecting it to be as fast as it is. Obviously the process it uses to focus is different to DSLRs, but it really is very quick, and this fussy user has not been left wanting. I would hope that in time it will only all get better with FM releases. For the first time ever, I think I may not be shooting RAW as the jpeg engine is so good, and the dynamic range and high ISO are excellent. I think this camera coupled with the Panny 20mm (or Panny Leica 25mm) is a very decent reason to avoid the X100 for any prospective buyers of that reading this - it seems to me that the benefit of APS-C over the micro four thirds sensor size are largely rendered moot by this camera based on my use of the two. One other thing I've noted is that the face detection system is quite astonishing. It's accurate - most are these days - but it gives you the option to automatically focus on the left or right eye of the subject, or the eye which is closest. I didn't think it would be very good, but it is absolutely brilliant. Having enabled it to try it out, I don't think I'll ever switch it off. Viewing images on the camera with all the info displayed, the exact point of focus is displayed - on every image of a person there was a little green square over the closest eye (and that green square was, I'm pleased to say, much smaller than the default af frame size). Unfortunately, it looks as though I just missed the free grip offer, but can hopefully pick one up at a keen price from someone who got that and doesn't want it, as I think that will improve the handling for me (with the front grip part on, not the battery compartment). I'll hope to report back more as I get to use the camera more over the coming weeks and months, but suffice to say I'm the most pleased with a camera I've been in a long time.