Need tele lens help.

Welcome! I'd wait for the new revised Oly 75-300 that's just been announced.

M.ZUIKO DIGITAL ED 75-300mm F4.8-6.7 II - PEN and OM-D - Lenses | Olympus

 

In the link bellow there are all the :43: lenses.
The best option regarding size would be the New O75-300.
The P45-200 is a cheaper and smaller option but will only get you 30% over your current lens.

Micro Four Thirds Obeachktive - HENNIGArts : Gear

 

If you are going the route of a tele lense with more reach than 150mm, I would also advise you consider getting an EVF if you don't already have one.

With my experience, using the LCD on the camera to take a photo at focal lengths of 100mm and beyond can be very difficult and frustrating.

 

If you're going to stick with slow zoom lenses like those you already have, then I would go for a 300mm super-tele like the Lumix 100-300mm or the revised m.Zuiko 75-300mm.

If you want something brighter, then get an adapted lens. It all depends on your needs.

 

In this case, get a lens with a lens collar, so the lens sits on the tripod.

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Sent from my phone. Please pardon my brevity!

 

If you are going with adapted lenses then you must get an EVF.
The adapted lenses do not have AF and usually are larger then the :43: lenses.
I would recommend to stay with the native :43: slow tele-zoom.
With the small body and lack of EVF your chances of getting keepers using adapted telephoto adapted lenses are slim.
If you want to practice with adapted lenses i would recommend getting a cheap 50mm F/1.8 first or get a similar with macro ability if you want to start shooting macro.

 

I also have an E-PL2 and love it except for low light. I had the Panasonic 45-200mm and it isn't worth it. The Panasonic lens is as big and heavy as my Nikkor 55-200mm !!! The extra 50mm was barely noticeable. I have an adapted 60-300mm and the extra 100mm does make a difference. There are 2 options for a 300mm in m4/3, the Panasonic 100-300 and the Olympus 75-300. I personally am going to get one of the Olympus lenses because it is a bit lighter.

 

If you use an adapted MF lens you can still manually enter the focal length to get IS. Some of the not-ridiculously-heavy 300mm options are:

Canon FD 300/5.6 SSC - 685g
Canon FDn 300/5.6 - 635g
Minolta MD 300/4.5 - 705g
Minolta MC 300/5.6 - 720g
Minolta MD 300/5.6 - 695g
Pentax M* 300/4 - 825g
Pentax A* 300/4 - 850g

But the caveats about adapted manual lenses that folks mention above certainly apply.

 

I'd get the Pany 100-300mm over the Oly 75-300mm because of OIS. I'm not convinced Oly's 2 axis IBIS is of much use at the best of times, let alone at 200mm. At least this way you have a choice.

 

I use an EPL2 & a 75-300. As far as size, you can easily handhold it. In good light, IBIS is sufficient to shoot at 300mm, but I still carry around a light monopod with me if I'm planning to use the 75-300 a lot. I love that it starts at 75 too--I never feel like I'm missing anything with just it and anything that's in the mid 40's (like the kit lens or my 12-20-45 trio).