My E-PM1 has finally arrived today. It will serve as a companion to my 7-month old and very much loved E-PL2. I spent a couple of hours shooting around the house and the yard. Here is my observations so far. As expected it is noticeably smaller and lighter than E-PL2 but still not quite pocketable , maybe cargo shorts. Although, with 14mm pancake attached I’m pretty certain it should easily fit into almost any jacket and won’t be as noticeable as E-PL2 due to reduced weight. Build quality is very decent and better than I expected. First of all, E-PM1 (and E-PL3 for that matter as they’re identical except for the tilting screen) is no way an upgrade to E-PL2, IMO. First, I tried on my 14mm pancake followed by 20mm and didn’t even notice improved AF speed (I’ve been pretty satisfied with E-PL2’s AF speed though). It’s only when I tested both cams side by side I saw the difference. Yes, there is an improvement in AF speed for both 14mm and 20mm lenses but not nearly as dramatic as it’s been suggested. The difference is probably more pronounced when compared to E-P2 (I tried that cam for a couple of months alongside E-PL2 and it was pain!). However, when I put on 14-42mm II R kit lens, the AF speed was astonishing even in low light (noticeably faster than both pancakes). Also, funny how the shutter sound seems louder than E-PL2! Panny 20mm feels clumsy on E-PM1! I’m gonna use it with 14mm most of the time. Again, those with E-PL2 looking up to Oly new series solely for AF improvement, don’t. E-PL2 is already sufficient. The absence of a grip is a bummer especially after getting used to the best grip I’ve ever tried – E-PL2. E-PM1 is a perfect second camera to help reduce lens changing when travelling. The flash which comes with E-PM1 is pretty small but produces awfully underexposed compared to built-in E-PL2’s flash. The flash is in constant semi-bounced position so dial in +1EV flash exposure compensation and you're all set (only need to do it once, the camera will remember this setting whenever you use flash). Perfect exposure now. The lack of buttons and the mode dial is surprisingly not a problem at all. Olympus did a great job designing this camera. It really feels like it provides sufficient controls with quick access. You still have the wheel dial on the back and you can customize REC button as Magnify, AEL, tele-converter, etc. You can also customize arrow buttons to assign both ISO and WB if you wish. The most important difference with E-PM1 (and I guess the entire 3rd generation) is extremely good AWB (when you set “warm off”). It is BY FAR the most precise AWB I have ever seen on any camera. In my house I have some challenging light and no camera could ever handle it right. E-PM1 is extremely impressive! Seriously, it’s hard to believe how good it is. This alone will make enormous difference for Point&Shooters and jpeg shooters in general. Panasonic couldn’t even dream about it! The smaller screen in 4:3 aspect ratio is not bad at all. The black bars on the sides are used to display live view info. AF Assist light is weird - totally random and not reliable. Gradation is now set to normal by default. Oly came to senses! I haven’t got time to compare IQ side by side. Seems identical to E-PL2 at first sight (including the colors). Haven’t checked out the video yet. I am curious to see if there is any C-AF improvement (in daylight at least). Will try to update this post when I get more time to shoot. Additional findings: E-PM1 displays focal length for native lenses. It is especially useful for my Oly 14-150mm. As I zoom in/out, changing FL is constantly displayed in live view (unlike E-PL2).