Hi folks,
Everything works! Even the LEICA D VARIO-ELMAR 14-150mm focussed reasonably quickly though I have lots more testing to do before I can put any numbers to that assertion. I'm working my way through the menu settings and customising the camera to behave the way I want as out of the box it seems more oriented towards the point and shoot upgraders.
Far too early for me to write much about the camera except to say I love it! This morning I popped the
14-42mm on, stuffed the camera in an inside
Harkila Kodiak jacket pocket (where my G10 used to live) and took the dogs for a walk. The shots I took were more with a view to seeing how well the lens performed and for such a pocketable combination I'm very happy.
The EXIF data seems to have got swallowed by Olympus Viewer 2 during conversion from an "ORF" RAW file to 16 bit TIFF prior to opening the image in Photoshop so here's a brief summary: 28mm (56mm equiv FoV), f/5.6, 1/1250 second, ISO 200. My intention is to use Adobe Camera RAW to develop the RAW ORF files but as my upgrade to CS6 (with its E-M5 support) won't arrive for a few days I had to make do. The image above is uncropped with a tad of extra sharpening but apart from that is essentially as the camera provided out of the box with no extra noise reduction.
The shot isn't going to get many marks for artistic merit but it is telling me that with the 14-42 lens in place I no longer need to carry the G10 around! Neither will the next shot win any admirers but it was a quick grab to test dynamic range, not in any scientific sense, but just to see what the camera can do.
Yep, I know - it's not even level

and my rough and ready processing has left the trees looking rather the worse for wear but my focus was on trying to show how much detail could be pulled out of both the highlights and the shadows. As I said, not scientific (the reviews have done the numbers) but for situations where exposure bracketing isn't feasible at least the E-M5 RAW data does offer the possibility of a rescue mission for web sized resolutions.

Once I get native ACR support for ORF files up and running I'll be much more able to tell how much magic, if any, is being performed behind the scenes by Olympus Viewer 2 as it develops the ORF files but in the end I suppose it doesn't matter too much. The OM-D E-M5 is producing an IQ at ISO 200 which is more than good enough for my needs. Am I glad I sold the 5D Mark II? You
betcha!
Bob.