Well, the first reviews are out and some of us have been able to handle the camera and listen to the Olympus marketing messages at launch events. The question I'm asking myself now is whether we can discern any strategy/direction from it all. It seems to me that the following are true (to some degree): The camera's features and its marketing are directed mainly at jpeg shooters and people for whom the camera's build, feel and aesthetics are more important than its IQ. Despite its new sensor Olympus are making no noises whatsoever about improved DR, ISO or noise claims. In fact, they're hardly mentioning it all. Video seems unimportant. The prime target market seems to be 30-40 years olds who see themselves as hip, creative and like to shoot over-saturated or grainy monochrome images that they can post quickly to Instagram and other social media sites. Now I'll admit that I'm following an agenda here, but bear with me. I'm sure the camera is a very fine piece of kit and quite capable of shooting raw images at least as good as the existing 16Mp cameras - but here's my concern.... The E-M5 launched on a ticket of compactness but with excellent IQ. The E-M1 continued that trend. Are we now seeing a change of tack? Are Olympus giving up on the IQ race and moving into a "lifestyle" camera? If so, I can see the sense. Mirrorless FF is racing ahead in the IQ stakes so trying to compete (or even keep in a good second place) on that alone is rather futile. Maybe the Olympus strategists judge today's IQ as more than enough for such a lifestyle camera. If so, what does this mean for the forthcoming E-M1ii? On a personal level I'll be very disappointed if the E-M1ii doesn't raise the bar in noise, ISO performance and DR - but if the Pen F is a preview of its technology then I might be heading for just that disappointment! Now maybe the Pen F means nothing in a wider perspective, maybe it's just a sensibly thought out marketing strategy to build a camera for a demographic that I'm not part of. Maybe the E-M1ii will be built more for people like me, people for whom IQ is an important part of the size and features trade off. I really hope that's the case since I'm not a 30-40 year old who likes shooting jpeg! Finally, there is I guess the possibility that we're hitting the limits of IQ in u43-sized sensors. The BSI sensors in the RX 100iii and the Samsung NX1 would indicate that to be untrue, but in which case, will the E-M1 get another new sensor?