I cant say I am overly surprised at the spec levels of the E-5 but left somewhat deflated. I bought an E-3 circa 6 months ago and find certain aspects of it frustrating but I bought with the full intention of letting me get used to a Pro-Spec Olympus camera such that I could trade up to the E-5 when it was launched, I got it for a good price with the 12-60 so was confident it would retain the bulk of its value for reselling. When I bought it I seriously thought about changing camps but decided to stay.
Only one thing will make be buy the E-5 and that is significantly improved noise performance, an issue I have not seen any one raise as I skim read this article. I do see it mentioned in other articles but I will reserve judgement. That along with the previously mentioned sluggish performance in C-AF mode which drives me nuts would be great for me. Other disappointing things for me are the lack of a function wheel, I thought that might return.
The biggest single disappointment for me though in the E-5 is that there is nothing revolutionary, surely thats a first for a major re-launch of an Olympus camera, especially one 3 years in the making. The list of predicted/rumoured/wishlist spec levels and features has not materialised. The use of the True V+ engine would appear to be the only real step forward if claims about sharpness, noise etc are correct. But lets face it when you invest in a system and you see other competitors leaving you standing by the advancements they are making, Canon E-7 is an excellent example and it will be circa £400 less, ok not the same build quality but it is weather sealed.
I know you should be concerned with what you can get with your camera and not worry about other manufacturers but I exist in a camera club and have a pal who like me used to use an E-510. He recently upped to an 7D and I tried like hell to convince him that in many situations his E-510 would perform as adequately. I knew I was not convincing him neither was I convincing myself. His low light noise performance is superb and the E-3 could not get close, I know, we tried like for like. I know there are certain types of image I want to take but I know the E-3 just cant do it.
I have read a few other articles and I cannot help but agree with the sentiment of some of them and that is the E-series days are numbered, they've fought a losing battle and this was their last stab at it and for me it will in all likelihood be a massive disappointment, and I expect reviews when launched to be less than complimentary. I don't expect significant noise improvement, if there was Olympus would be singing about it.
I feel like they guy who bought a Betamax video recorder or a Toshiba HDDVD player, slightly dramatic but that's how I feel. I bought into Olympus but it seems from this effort they are no longer investing or no longer able to invest in their DSLR customer base. I think we have now established the 4/3rds system cannot be stretched or enhanced beyond what the E-5 offers and commercially I predict this will be a disaster, I think Olympus know that too hence the obvious lack of innovation in this camera. Every single key spec level of this camera has either been equalled or beaten by its serious competitors in models considerably older than this. There is not one feature in the E-5 that would make me want to upgrade from an E-3, not one, not even Art Filters, jee whiz. Olympus were innovators, how many "firsts" did they have in their earlier bodies, articulating screens, fastest autofocus, etc. I don't think there is one first in this camera and that is its only first. I am sure people will stay loyal and good luck to them and I wont argue back on that score, not because I cant but because I respect peoples right to hold an opinion. I will await with interest for noise comparison images, but I will not hold my breath.
The End, I think.