dSLR picture quality in carry "everywhere" size
Just what I've been waiting for. The ability to take full control of aperture, iso, shutter speed, etc...and produce high quality images without the bulk of traditional dSLR's.

I was so tired of the the limitations of point-and-shoot cameras; small sensor = grainy photos and terrible in low light. I needed more than just being able to put it in my pocket or mega mega pixels (higher count doesn't mean better quality - just a marketing ploy to make it sound better. Bigger sensor = more info per pixel). I wanted, but didn't want a dSLR because i knew i would not use it as often due to its size, unless of course i was on a shooting mission.

The e-p1 is not "pocketable", but small enough that i can throw it over my shoulder and take it everywhere (i do). It also doesn't scream "look at me, I'm taking photos" like the dSLR would make me feel. As a result it makes for great candid photos of family and friends as well as a good street photo system.

A lot has been written about poor Auto Focus speed. It's not as fast as dSLRs, but from experience, it's night and day from point-and-shoots. I really don't see it as an issue. I have no problem capturing great moments of my active 1yr old son.

Why i decided on the e-p1?
1. Excellent build. It is solid!! I held the e-pL1 and it just felt bulkier than expected and had a plastic cheap feel to it.
2. Price. It's hard to pass-up on an instant classic at current prices (9 at Costco online with 14-42mm kit lens).
3. Features. It has all the features i wanted from a dSLR;large sensor, interchangeable lenses, and ability to take full control and therefor get more creative.
4. In-body image stabilization. I didn't want to limit myself to lenses with built-in IS (plus these lenses are more expensive).
5. Better out of camera .jpgs compared to G-F1. This will cut down on RAW image post production. The e-pL1 also produces excellent OOC .jpgs, but if you compare to the e-p1 it lacks some features that make the e-p1 a more serious system.

Don't worry about no built-in flash. Those will ruin a photo 99% of the time. The only time i would use it is to soften harsh shadows under a bright noon sun (Time of day i try to avoid anyway). No EVF (electronic view finder), no problem for me. I'm so used to using the LCD that I really don't see it as a limitation.

Seriously consider the panasonic lumix 20mm f/1.7 lens. It makes for an excellent low-light combo. I keep this on my camera 95% of the time.

Very satisfied with this camera
The Panasonic 20 mm lens is more fun, so consider buying that as well.

The fold-in mechanism in the lens is nice for saving space - but I am already getting tired of using it.

This little gem has converted a skeptic
I bought this hoping it would be a barely acceptable DSLR substitute, expecting I would end up not liking it and sending it on it's way back to the retailer or to someone else by reselling it. I've been using film and then digital slrs for 20+ years, so I'm used to an SLR. I actually LIKE SLRs, especially sturdy, hefty and fast DSLR's such as Nikon's D200.

The e-p1 seemed very......different.

As it turns out, vive le difference!

While I was pretty skeptical, I figured I wouldn't lose too much if I took a chance on one to try it out. I'm now glad I did since mine has really changed what I think about this type of camera (bigger sensor, no mirror).

I was never entirely satisfied with the limits of the all-in-one digicams out there, although I had resigned myself to getting something like a DP2, LX3 or G11, so that I could travel lighter when I didn't really need the D200. Basically, when I might be headed somewhere where I MIGHT want a camera, but wasn't planning a trip explicitly for the photo opps.

True, there is no eye-level finder(addressed in the e-p2 and e-pl1 with the addon VF), so you have to compose using live-view. And yes, I'm still getting used to it. But I've found it gets more comfortable and less "unacceptable" the more you do it, so I'm making that adjustment. Pretty happily in fact given all the positive qualities of the e-p1.

I also thought that the AF would be unacceptably slow from the reviews I read, but I haven't found that to be the case. Yes, it is slower than my D200. But it turns out not to be a problem for me, even though I haven't upgraded to the latest firmware, which is supposed to provide even faster AF. Of course I'm not trying to shoot fast moving action with it either, so if you're into that you wouldn't be happy with the AF speed, since there are plenty of DSLRs that are quite a bit faster.

So what are the good qualities?

Great image quality for a start. It is really excellent for jpegs, but if you like to shoot RAW and cook the output however you like, you can do that too. I've started shooting more jpegs, since I hate sitting around in front of a computer (since it's what I do every weekday already). And the e-p1 really does output a great jpeg. Of course, the good lenses that are available help as well. As does the built-in IS.

And even though the AF is slower than an SLR, the e-p1 still seems more responsive than most compact digicams I've tried. Part of the reason that it feels responsive is just the camera's speed, but also the controls work well, which makes changing settings a breeze (for the most part.) And you can control pretty much everything, which makes the camera configurable and flexible.

Speaking of flexible, there are more options for a little camera like this than for a small digicam. You can good telephoto zooms, normal zooms (like the kit lens), wide-angle and wide-angle to tele zooms, as well as using the four-thirds lens adapter and OM adapter.

After using it for a week, I'm much happier with the e-p1 than I thought would be.

I do have a couple of complaints thought, one with AF/MF and one with the body design/spec.

Sometimes the camera focuses on a background object instead of the foreground object you wanted it to focus on. When this happens with my slr, I can switch to manual-focus and be ok. Unfortunately, using manual focus is a little more difficult than I would prefer. It works ok if the camera is on a tripod, but when using the camera unsupported, it's difficult to hold the camera steady enough with one hand to and fine tune focus with the other. The camera jiggles around as you're turning the focus ring with your off-hand, so it's hard to get things really sharp.

I also would have really like to see the camera and lens dust and weather-proofed some. It wouldn't need to withstand a torrential downpour (although it would be nice), but enough weather-proofing to stand up to a light rain would be good. Ditto with dust-proofing.

But I have a lot fewer complaints than I thought I would when I first got it. In fact, until I actually took it out and used it I was planning to return it. Lucky for me, I gave it a chance and it turned my opinion around. Now I've ordered the four-thirds adapter and a lens I've had my eye on, so I can see that I need to make more room on my gear-shelf for some more micro 4/3 gear.

Favorite Camera
I absolutely love this camera! The portability and ease of use really makes this camera fun and inspiring. The jpg quality is a real plus. Often the photos look so good right out of the camera that I don't need to spend time editing in Photoshop or Lighroom. I have a Nikon DSLR's and canon and Panasonic point and shoots, but the EP-1 is really the perfect fit for what I do, which is a lot of street/travel photography. Great camera to just through in a messenger bag and go. I would highly recommend the Panasonic 20mm to go along with it, amazing for low light. The kit lens is pretty good too though. The lack of a viewfinder doesn't bother me because I've spent so many years now shooting with just an lcd, but for those used to a viewfinder you might want the E-P2. With the price so low right now this is a great value.

attractive design but medicore picture quality.
I think other than a beautiful design, there isn't really much to write about it being a good camera. I would recommend anyone who is interested in a micro four thirds should save some money for a lumix gf1. It is light year better in performance and as good as, if not better in picture quality than the ep1.