Olympus E-PL1 brings micro-4/3s prices into fixed-lens territory

2010 has seen a staggering wave of point-and-shoot camera updates, with more than 100 new models released this month from the major manufacturers alone, including a swath of releases just yesterday from Nikon and Fuji. But one of the biggest stories in the consumer market is the squeeze these cameras are feeling, from essentially free camera phones on the low-end, to the new Electronic Viewfinder Interchangeable Lens cameras on the high end (yes, the acronym is EVIL.) These offer the advantages of larger sensors and interchangeable lenses without creating giant-sized cameras. Now Olympus has released the new E-PL1, and at $599 with a kit lens, it's right in the same price range with some upper-level fixed-lens cameras.

Price is a major factor here over the E-P2, but it also adds some new features, mainly an on-board pop-up flash. Where it saves the money is in a more plasticky body, including no manual dials. So if you hate diving into the menus, you may want to look at the pricier models.

Taking a cue from Pentax, perhaps, the E-PL will be available in a variety of colors, from standard black and silver to blue, white, and red, depending on the region.

Basic specs: Weight: 296g with battery (compared to 335g for the E-P2), 12.3-megapixel sensor, dust-reduction, 720p video capture at 30 fps, live view, 3-stop built-in image stabilization, ISO range 200-3200.

In addition, Olympus announced two new lenses for Micro 4/3s, the 9-18mm f/4-5.6 ultra-wide zoom and the 14-150mm f/4-5.6 wide-angle to telephoto superzoom. As with any 4/3s cameras, you'll want to multiply the focal length by 2x to get the same approximate field of view as on a 35mm camera.