Noise happens with bad exposure, regardless of ISO settings. Try to boost an image shot underexposed at the lowest possible ISO setting on the best camera, the shadow will show noise. No technology can compensate for bad photographic skills. Period. Its like you can have the best rifle in the world, but if you cannot shoot straight, you can never hit the target, hence the saying : "If you cannot swim, don't blame the trunks being too big".
Other functions like 4/3 adapter with AF (to be confirmed later) is something that would be a plus point if implemented. That is a MAJOR draw.
I ask myself why I want and what I need in this new system, and the answer became clear, and I know that this camera is for me.
But I would not want to elaborate further for I believe each and every one of us has a different need in what we are seeking in a camera system.
Like I have shared many times in outings and gatherings, there is no one perfect system yet, and therefore I don't want to complain about systems though I openly admit that I dislike Canon still (not forever, mind you). Every system has its strength, and there might be a day I might have to buy a Canon system because it helps me take better pictures for a situation that I am in. I will never know. But for now, for my shooting style and needs, Olympus, Nikon, Mamiya and Red are the four brands that caters to those needs.
For the basic requirement, the E-P1 replaces the E-420 and Panasonic LX-3. Funny thing is, I absolutely hated Panasonic going AVCHD format, because it is a pain to use. Yes, professional video editors will have that codec ready in their high end machines, but I am not ready to spend a 5 figure amount to support and edit in that format, no thank you.
And as I have mentioned to Mike Lee, I have requested Olympus NOT to go solely 1080p, and have an option for 720p, and thankfully I have my 720p... I am very happy for that. I already have 6TB storage in my room, and I don't want to triple that in a year... Having a noisy disk array is no joke, not to mention the noise, the heat from that... if I need 4k filming, the Red does a better job and it was created for that. For my holidays and daily recording of life, 720p is currently enough for me. May change in 2 years, but for now, it is enough. I cannot imagine buying a few 32GB SDHC Class 6 for the camera just because I want 1080p videos. And GH-1 is able to control that 1080p beast well anyway. LX-3 opened the way to show me how amazing Panasonic has been to develop their sensor to shoot mind blowing videos on a compact camera. That is the benchmark for me. For those with more money and can afford buying PB (not TB) of harddisk space, good for you, go shoot 4k for all I care, I don't enjoy having to upgrade all cables in my room from FW800 to fibre... a painful exercise.
The E-P1 concept serves me well as a "leisure camera", for serious stuff, I will gladly pick up my E-3 which I still consider my serious camera.
For leisure hobbyists, I am sure you are looking at E-P1 as a main camera even, so our needs are different. And thank you for sharing your views on that. This thread, with all the contributions, is really helping potential E-P1 users/owners have a better insight on how the E-P1 will serve their needs.
Silver or white, that is my question... headache... Must see how a "black lens on white body with light brown leather" will look... Most of the time, I should be just using the E-P1 with the 17mm pancake and OVF like a rangefinder. And waiting patiently for the 10mm pancake to come...