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I remember when Olympus (and a few others) announced the 4/3rds lens system ... at the time it seemed like a really great idea. I still think it was, in a lot of ways. But in the end not getting Nikon or Canon or Pentax on board kinda sunk it as a universal DSLR standard. I'd be wary of buying an interchangeable-lens camera with a relatively limited selection of lenses.
But they seem to be aiming for a digital version of the old rangefinder market, and it's a great looking camera. It might appeal to people who don't want something that looks big and "professional" but instead something more like a traditional film P&S.
Not really my taste given the price but if you already carry a bag around with you that you could carry it in, and you don't care too much about not having the lens selection that you'd get with a Canon or Nikon DSLR ... I guess I can see the draw.
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