Olympus has revealed the long rumored E-M1 and 12-40mm f/2.8 zoom. It sounds like the E-M1 uses the same excellent panel as the VF-4 (for the PEN E-P5). Prices start at £1299.99 for the body only, £1499.99 for the M.ZUIKO DIGITAL 12-50mm 1:3.5-6.3 lens kit and £1949.99 for a kit that includes the new M.ZUIKO DIGITAL 12-40mm 1:2.8 lens.
While the E-M1 seems like a good step up from the E-M5 and PEN E-P5 (both sitting on my desk right now) for stills. the limited 1080/30p video (with a max 24Mbps bit rate) will not give Panasonic GH-3 users any cause for concern, even with the 5-Axis IBIS (which is one of the best for handheld video). Olympus really need to offer 60/50/30/25/24p and IPB and All-I compression and MOV (H.264), MP4 and AVCHD formats. Lets also hope the focus peaking isn't like that found on the E-P5 (it's okay, but nothing like that on the Sony A-99).