I got to play a bit yesterday with the E-P1, and was impressed with how solid it felt. I didn’t like the control system much, though—the thumb-scroll thingy was a bit wonky for my taste. And manual focusing felt really awkward.
Now there’s competition in the form of the Panasonic GF1. It fixes a couple of the E-P1’s perceived issues: slowish AF and no available electronic viewfinder. The EVF is a clip on, but I’m OK with that. I’d probably leave it behind for mountain biking and other times where a compact size is critical, but having it really would improve the handling, if my short time with the E-P1 is any indication.
IS in the body is great. Combined with a screaming fast 20mm f/1.7 lens, this could really be a winner.