Never saw the Olympus before and just looked for some information. Looks OK but not perfect. Pretty impressive zoom range for that size.
In my opinion 16MP are quite a lot for that small camera / sensor and I guess you might find ISO noise even using lower ISOs - and zooming you end up with an aperture of 6.9 - sucking a lot of light (so high ISO might be needed to get no camera shake).
There are two other things I don't really like about it. The first thing is the battery - you have to charge it within the camera via USB - so while charging you cannot use the camera.
The second thing is that there are no manual modes but the "P" mode. So at least you can change the ISO and the exposure compensation manually but nothing else. No shutter speed, no aperture, no custom white balance...
EDIT: I found a thread about the Olympus - someone tested it here: http://www.cameralabs.com/forum/viewtopic.php?t=27081