Pros Touch screen auto focus is a great feature
Excellent low light camera.
Built in view finder
Battery is great
Compact size and light weight
Cons No in-camera HDR processing
No built in flash but does come with pocket size flash attachment
Summary I must say that this camera is amazing. I have been using a Nikon D7000 before this but I decided to reduce weight and went with the E-PL5, and I am not missing the D7000 at all. I used to find myself ditching the big chunky D7000 in most situations and always carrying around a pocketable point and shoot, unless I was going somewhere with breathtaking scenery. So this camera will actually replace two previous cameras I own (D7000 and my small point and shoot).
From what I have seen, this camera shoots images with very comparable quality to mid range DSLRs such as the one I had. The size and features of this thing are right on. The touch screen auto focus is a great feature. The camera does a really great job in low light settings. You can shoot with ISOs up to 3200 and still come out with very decent looking photographs. One thing I must point out though, if you are going to shoot in JPEG, make sure to switch to the Large FINE Quality JPEG setting when you get the camera. I don't know why on earth Olympus did this, but the default setting is Large NORMAL Quality JPEG.
I have used the 14-42mm II and 40-150mm R lenses with this camera and they are very good and sharp lenses, but the camera really excels with the amazing prime line up of lenses that Olympus and Panasonic offers. The image quality with these prime lenses are just amazing coming out of such a small body. I also have the 15mm Body Cap lens which is fun to use and makes the camera completely pocketable (which I will use for backpacking trips where I need to shave down on weight). Although this lens is a little soft around the edges, the image quality that it produced was surprisingly much better then I expected (similar quality to mid-to-high range point and shoots). For the attention grabbers out there, I have also had several people that have seen me take off the 15mm Body Cap lens and put on the 40-150mm for close ups and were so impressed that I was able to do that with such a small camera.
I was thinking between this and the Flagship OM-D. I am glad I decided to go with the E-PL5. I cannot justify the increased size/weight, and the price difference for getting a slightly better image stabilization system, weather-proofness, and a built in view finder. I actually like the option of being able to stick an external view finder on a very bright sunny day, and not having the carry it around when in low light. Just recently there have been direct comparisons of image quality, noise, and dynamic range between the E-PL5 and OM-D and the results so far, to everyones surprise, show that the E-PL5 actually excels slightly in all three categories (which is making the OM-D owners very angry). The explanation for this seems to be that the E-PL5 does not have a low-pass Filter (AA filter). So all in all, you would be paying double the price of the E-PL5 to get the OM-D for some features that do not make the image quality better which in my opinion is not worth it.
If you are thinking of getting a mid-range DSLR and/or high range point and shoot, then you should seriously consider this camera. Most importantly for me, my neck/shoulder does not hurt anymore without the expense of image quality after carrying this camera around all day.
PS: I suggest you have to check for best purchase at: Compactcamerashot.blogspot.com/2013/07/olympus-e-pl5-deals.html
Thank for reading, hope it helps.
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