Happy Mother's Day! Happy Father's Day! Happy Graduation! Photo.net has great photography gift ideas for the Mom, Dad, or Grad in your life. Shop for camera bags, lenses, DSLRs, and more...
Clubs, bars, and small venues are the places where most concert and live music photographers get their start, the reason being that there are fewer restrictions since the performers are less likely to...
Olympus today announced a new Micro Four Thirds body, the E-M5. It is the first in what Olympus is calling its OM-D line of Micro Four Thirds bodies. A new lineup that is intended to attract a more advanced user group than the existing PEN line. As you can see, it is styled after the classic OM line of film SLR’s. Here is Olympus’s intro and main feature points:
Evoking the classic design of the original OM Series introduced 40 years ago, and transforming it for the modern age, the Olympus OM-D Series is a new and entirely unique Micro Four Thirds camera system. It combines outstanding features found in the Olympus E-System DSLR line with those of the compact Olympus PEN Series to meet the requirements of discerning photographers who demand more performance and portability from their interchangeable-lens cameras. The compact and ready-for-action Olympus E-M5 boasts breakthrough innovations inside, including
* A built-in 120-fps (frames-per-second) refresh rate, high-resolution electronic viewfinder (EVF) with outstanding image quality, eye detect and intuitive functionality that enables real-time viewing of shooting conditions
* A 16.1-megapixel Live MOS Sensor and TruePic™ VI image-processing engine for superior image quality and high sensitivity
* The world’s first*1 5-axis image stabilizer to compensate for multi-directional camera shake during both still photography and HD moviemaking
* The world’s fastest*2 autofocusing system (FAST AF) plus new 3D AF tracking for improved performance following moving subjects at up to 9 frames-per-second sequential shooting
* A lightweight magnesium alloy body that is enhanced with the same dustproof and splashproof durability of the Olympus E-5 DSLR
* A tilting 3.0-inch touch screen OLED
* Newly announced M.ZUIKODIGITAL ED 75mm f1.8 and M.ZUIKODIGITAL ED 60mm f2.8 macro lenses
* 4.8 inch (W) x 3.5 inch (H) x 1.7 inch (D)
* 13oz body only, 15 oz with battery and card
Photo.net Editorial
Josh’s Take
I got to play with a pre-production OM-D E-M5 when I met with the Olympus crew at CES in January. I’ll say this straight out at the beginning, I think Olympus has a winner with this camera. It fills a market need that I think a lot of people have been feeling. Where is the mirrorless system camera that gives us some of the features that we see in our pro DSLRs? To their credit, Olympus claims to have surveyed existing dedicated Micro Four Thirds users about what additional features they were looking for in a Four Thirds body. They claim that a built-in EVF, better ISO performance, faster AF, and weather sealing were the top responses from that survey. I don’t find that surprising at all and think that all are good features to focus on. As a side note, while its specific designation is E-M5, I have a feeling that most people will end up calling it the O-MD at least for the time being due to the fact that it only says E-M5 on the top plate and says OM-D on the front.
Body and Handling
The OM-D E-M5 body design itself is perhaps the best decision they could have made. In an era where camera systems are becoming more and more diverse, we are still stuck with far too many cameras that look the same (and thus often handle the same) as each other. There are a few exceptions to this rule starting to show up, the Fujifilm Xpro1 and the Pentax K-01 come to mind. But the OM-D E-M5 does them both one better by drawing on a style and design that is steeped in history for many photographers, but particularly for long time Olympus photographers. The E-M5 body design directly brings to mind the classic Olympus OM cameras. Many of us started out with an OM-1 or OM-10 in the 70’s or 80’s and many of us lusted for an OM-4Ti long after AF had taken over our lives in the 90’s. For me it was my father’s OM-10, I’ve still got it up on the shelf in my office. That body style evokes more in me than any of a thousand “box with buttons” generic designs (of which Olympus themselves has a few in their lineup). Now, I’m just one guy with a history that involves Olympus, but I somehow doubt that the design style will be overlooked by anyone. The OM-D E-M5, particularly in black, is a very good looking camera.
More importantly, the E-M5 feels good in the hand. The magnesium alloy construction gives the camera a nice solid feel. Typically an area where you might expect to see a construction shortcut, even the EVF housing is made of that same magnesium. While as with most all cameras these days, there are plenty of buttons, but at least they are well located here. Perhaps more importantly, the E-M5 has both a main command and sub command dial on its top plate (in addition to a mode dial) and a nice solid on-off switch on the back. As there is no flash on the body itself, Olympus includes the small FL-LM2 Electronic Flash. One neat thing about the FL-LM2 is that it has bounce tilt ability (though not swivel). Something not usually seen on flashes of its size. There is also a adapter, MMF-3, allowing use of regular Four-Thirds lenses on the E-M5 body. Additionally, in a unique move, Olympus is offering a two part accessory grip that can be assembled in different configurations, the HLD-6. The HLD-6G is a grip that has a shutter release and command dial on top. It, again, is very much like the grips that you would see on older Olympus SLRs and looks just like the one I had one for my father’s OM10. The HLD-6P is a more standard vertical-grip + additional battery holder like those that we are used to with today’s DSLRs. It has a vertical shutter release, command dial, sub command dial and Fn buttons. It holds, I believe, a single additional battery. The HLD-6G can be used without the HLD-6P or they can be stacked on top of each other and used together (making for a much bigger overall camera size). Please forgive some vagueness here. At CES Olympus did not have operational samples of either grip at CES, just dummy mockups.
Photo.net Editorial
OLED Tilt Screen
Olympus wisely chose to put the OLED touch screen from the PEN EP-3 onto the OM-D E-M5. The touch screen is really an outstanding advance in camera technology. In fact, the only read drawback is that it doesn’t do more. I think many of us are used to flicking through settings and menus on our smartphones and it’s a bit odd to still have to use buttons on a camera that has a smartphone-like screen. In addition to the touch feature, Olympus has given the E-M5 screen the same tilting functionality as the PEN E-PL3’s screen has. This is going to be a big deal for some people and unimportant to others. However, it’s one of those things that I see no downside in including in a camera since it doesn’t really add bulk or cost to do so. Plus, as a short guy and as someone who is always chasing little kids around, I’m often putting a camera over my head or low to the ground. So while I don’t tend to think of a tilting screen as a big deal, I promise you that I’ll end up using it if someone puts it on a camera.
Built In EVF
Speaking about the OLED screen brings me to what may be considered the most important feature on the OM-D E-M5 for many photographers, particularly those coming from a SLR background, the built in Electronic View Finder (EVF). I myself am a fan of viewfinders over LCD’s if given choice. But I admit that I almost never use one when it is a hot shoe mount external one. Why? I don’t know. Perhaps it’s just the annoyance of having to carry another item with me or perhaps it’s the age old “can’t use a flash and a VF at the same time” problem that rangefinder users have dealt with for decades. For anyone who hasn’t used one recently, EVFs have made quantum leaps in usability in recent years. Resolution and refresh rate (the E-M5’s is 120fps) are up to a point where you really do start to feel like you are using an optical viewfinder. No, nothing will match the kind of view you get with a true high quality optical VF (like a rangefinder) or a through the lens SLR view. But then again, EVFs offer many advantages that those styles of viewfinders cannot. In a nod to SLR style VF’s, camera setting info is displayed at the bottom of the EVF leaving the image area uncluttered. Of course if you want the more common “settings all over the screen” view, you can always use the OLED screen.
Photo.net Editorial
Internal Improvements (AF, Sensor, & IS system)
An AF speed increase is always welcome. Until the introduction of the E-P3, AF speed was long the weak point of the Olympus PEN cameras. The E-P3’s AF speed was a huge step up and Olympus claimed it to be the “worlds fastest AF” at that time. Not being a computer, I had no way to prove that. But the E-P3 was, in real world use, a pleasure as far as AF was concerned. Now, with the OM-D E-M5, Olympus is claiming an improvement over the E-P3’s AF speed and is once again giving their camera a “worlds fastest AF” designation in addition to a 9fps tracking AF speed. I only was able to play around with the E-M5 inside a trade show conference room, so it wasn’t much of a test. But for what it is worth, the AF seemed plenty quick to me. Likewise, the announcement of a newly designed better performing sensor is always welcome as well. One thing that many of the mirrorless system cameras will always be dealing with is their smaller sensor size as compared to APS-C or full frame DSLRs. Now, this has advantages in areas such as lens and body size. But it also has disadvantages when looking at such things as high ISO performance. In my mind, mirrorless system companies need to make sure they double down on sensor performance to make sure that they keep pace with their DSLR counterparts. The final big internal improvement on the OM-D is the introduction of a 5 axis image stabilization system. Previous IS systems compensated for camera shake from camera movement on the vertical and horizontal axis. However, Olympus maintains that camera shake can actually be caused by five different kinds of movement: horizontal shift, vertical shift, rotary motion, as well as the yaw and pitch. The E-M5’s IS system is supposed to take all of these movements into account. If true, that is pretty cool and a big jump in IS technology. But like the other items in this paragraph, the IS system wasn’t something I could get a very good feel for while sitting in a conference room. Still, what they are saying makes sense, think about all the says that you can move a camera. Will it make a difference in real world usage? That is something I cannot predict.
Weather Sealed
Finally, the introduction of a mirrorless system body that is weather sealed is a pretty big deal. I think many people tend to assume only hardcore nature photographers really need weatherproofing. But I would argue that far more of us can benefit from it than you would think. One of the greatest advantages to these cameras over their DSLR competition is the fact that they can be so compact and travel so well. Travel, as many of us know, can be a messy business. Sand, rain, mud, and so on can get into places that you never though they could. This goes for cameras as well. There is nothing like hearing sand grinding in a lens to ruin an otherwise wonderful adventure for a photographer. Now, to be clear, both bodies AND lenses have to be weather sealed for it to be a complete system. If one is not, there is still a path for water/sand/etc to get into the other. Currently, the only weather sealed lens that Olympus offers is the previously released 12-50 mm f3.5-6.3 EZ. Though,as noted above, the new 60/2.8 macro lens will also be weather sealed. It should be noted that the FL-LM2, HLD-6, and MMF-3 are all weather sealed as well.
Photo.net Editorial
Availability and Pricing
The Olympus E-M5 will be available in April and ships in the following configurations:
Estimated Street Price:
$999.99 (Body only, available in Black and Silver)
$1,299.99 (Black or Silver body with black M.ZUIKO Digital ED 12-50 mm f3.5-6.3 EZ lens)
$1,099.99 (Black body with black M.ZUIKODIGITAL 14-42 mm f3.5-5.6 II R lens)
Announced at the same time are two new Micro Four Thirds lenses, a M.ZUIKODIGITAL ED 75mm f1.8 and the M.ZUIKODIGITAL ED 60mm f2.8 macro. The 75mm lens is a metal design with fast aperture settings for portraits and indoor sports shooting, while the dustproof and splashproof 60mm lens features 1:1 macro and a closest shooting distance of just 7.5 inches. The macro is nice, particularly if you are going to be wanting the weather sealed lens lineup to grow. But in my mind, the really cool aspect is the aperture ring on the 75/1.8. That’s a pretty interesting and retro feature. goes well with the EM-5’s styling. Pricing and availability for the lenses has not been released. I do question how useful a 150mm (in 35mm FOV equiv) lens will be to most people. I personally prefer something a bit shorter as an all around portrait lens. But still, it is another fast prime in the Mirco Four Thirds lineup. I will never complain about that.
There is a new flash available as well, the FL-600R. I can’t comment on it a whole lot except to repeat what was in the press release:
The FL-600R electronic flash (GN 50 at ISO 200 or GN 36 at ISO 100) offers improved recharge time and enhanced flexibility and operability for movie recording, and with a wireless control option. Equipped with a built-in LED, the FL-600R can be used to light movies and as a brighter AF auxiliary light.
Bottom Line
As I said at the beginning, I think Olympus has a winner with the E-M5 and indeed, with the OM-D concept. One of the curses of virtually all the mirrorless systems, and Micro Four Thirds perhaps most of all, is that they have been focused on the “in between” user moving up from a fixed lens camera to something more advanced. That is all well and good, and many of the features that such users enjoy are also enjoyed by more advanced photographers. But now that we are a number of years into the mirrorless system market, it is time for more advanced photographers to start seeing some mirrorless products be designed for them. For my money, the OM-D E-M5 is a really good start. This is a camera that is not designed with the camera-phone market in mind. It is designed with the idea that people who are serious about their photography are more demanding about their gear. I love it. LOVE it. Along with the continued release, particularly by Olympus, of fast prime lenses, we are now seeing Micro Four Thirds grow evolve into something far beyond its beginnings as a bridge camera for p&s users.
I get to play with a lot of cameras, and I love doing so. Almost every camera released these days has something that I like about it or that is new and different. But like most of you out there, it is a rare camera that makes me really excited when it is announced. The OM-D E-M5 is one of them I can’t wait to get this camera in my hands and see if the performance and user experience lives up to the promise I see in it.
More Images
Click here for more images of the OM-D E-M5 (or click the image below).
Olympus Press Release
CLASSIC OM DESIGNREVIVEDINTO A NEWSTATE OF THEARTDIGITALCAMERA – THEBEGINING OF THENEW: OLYMPUS OM-D E-M5
The Olympus E-M5 Unites an Intuitive Built-In Electronic Viewfinder with the World’s First*1 5-Axis Image Stabilization and World’s Fastest*2 Autofocusing System inside a Powerfully Portable and Rugged Dustproof and Splashproof Body
CENTERVALLEY, Pa., February 7, 2012, 9:00pm â Today Olympus builds upon the 40-year legacy of the OM SLR film camera series and marks the beginning of the new digital imaging era with the launch of the Olympus E-M5, the first of the new Olympus OM-D (OM Digital) Series of Micro Four Thirds™ products. Designed to meet the needs of advanced photographers, the Olympus E-M5 is packed with a built-in electronic viewfinder, superior image technology, blazing fast speed and total creative control in a classic, rugged body ready for sand, sun, sleet or snow.
Evoking the classic design of the original OM Series introduced 40 years ago, and transforming it for the modern age, the Olympus OM-D Series is a new and entirely unique Micro Four Thirds camera system. It combines outstanding features found in the Olympus E-System DSLR line with those of the compact Olympus PEN® Series to meet the requirements of discerning photographers who demand more performance and portability from their interchangeable-lens cameras. The compact and ready-for-action Olympus E-M5 boasts breakthrough innovations inside, including:
A built-in 120-fps (frames-per-second) refresh rate, high-resolution electronic viewfinder (EVF) with outstanding image quality, eye detect and intuitive functionality that enables real-time viewing of shooting conditions
A 16.1-megapixel Live MOS Sensor and TruePic™ VI image-processing engine for superior image quality and high sensitivity
The world’s first*1 5-axis image stabilizer to compensate for multi-directional camera shake during both still photography and HD moviemaking
The world’s fastest*2 autofocusing system (FAST AF) plus new 3D AF tracking for improved performance following moving subjects at up to 9 frames-per-second sequential shooting
A lightweight magnesium alloy body that is enhanced with the same dustproof and splashproof durability of the Olympus E-5 DSLR
A tilting 3.0-inch touch screen OLED and new Movie Effects: One Shot Echo, for a semi-transparent frame at your whim and Multi Echo, for a multi-motion trail effect.
Intuitively Designed Electronic Viewfinder
The OLYMPUS E-M5 is the first Olympus interchangeable-lens camera to incorporate a 120-fps refresh rate, High-Definition electronic viewfinder with an eye sensor to seamlessly switch the display between the tilting, 3.0-inch touch screen OLED and the electronic viewfinder for ease-of-use, features a 100-percent field of view, maximum 1.15x magnification and an eye point of 18mm for fatigue-free viewing. Camera setting information, such as shutter speed, is displayed at the bottom of the viewfinder so photographers can concentrate on framing shots and take full advantage of an EVF’s ability to display the effects of various exposure adjustments and Art Filter effects â all without having to take the eye away from the viewfinder.
Superior Image Quality
The Olympus E-M5 uses a new 16.1 megapixel High-Speed Live MOS Sensor offering improved performance and exceptional clarity and speed in all aspects of image capture. Olympus’ TruePic VI image-processing engine dramatically improves image quality in low-light environments. The camera’s sensor allows for a maximum ISO of 25,600, and the dynamic range has been expanded for more faithful color reproduction.
Unprecedented 5-axis image stabilization
The Olympus E-M5 is distinguished by the world’s first 5-axis image-stabilization mechanism capable of reducing the effects of camera motion and image blur from five directions on stills and video, even including motion blur caused by the photographer walking or running. Previous IS mechanisms compensated for camera shake by addressing only two kinds of movement along the vertical and horizontal axis. However, camera shake can actually be caused by five different kinds of movement: horizontal shift, vertical shift, rotary motion, as well as the yaw and pitch. While some technology has attempted to correct for camera blur by building the Image Stabilization mechanism into the lens, the Olympus E-M5 IS mechanism is incorporated into the camera body itself so that all lenses mounted on the body can take advantage of this sophisticated technology, whether shooting stills or HD video.
Blazing Speed
Focus and shoot faster with record-breaking autofocus speed and imaging processing. The Olympus E-M5 employs the FAST (Frequency Acceleration Sensor Technology) AF system, introduced in the PEN E-P3, but with even greater speed. The 16MP Live MOS chip drives image data off the sensor at a blazing 240 frames-per-second, a 2X speed increase in Continuous Autofocus, with reduced image blackout enabling photographers to track fast action, Maximum frame rates in sequential shooting have also increased more than 2X with a max frame rate of 9-fps in Single AF. A new 3D tracking AF system can follow the subject through the X-, Y- and Z-axes to dramatically improve focus on moving subjects. Paired with the M.ZUIKODIGITAL ED 12-50-mm f3.5-6.3 electronic zoom lens for optimum focusing speed, fast camera start-up times and operational speeds enable the photographer to keep up with the most challenging shooting situations, while dual control dials and dedicated function buttons help them adjust settings on-the-fly.
Creative Freedom
The Olympus E-M5 features a 3.0-inch tilting OLED touch-screen to enable photographers to get up high or down low for any shot. The touch screen interface offers intuitive focus and release of the shutter and review and enlargement of images in playback with the touch of a finger. The new Live Bulb feature updates the Live View image on the OLED screen at pre-set intervals during long exposures and enables the user to preview continually unfolding action such as fireworks or waterfalls and adjust the exposure time accordingly while capturing the image at the desired moment. An innovative new interface, EVF Creative Control, produces a tone curve overlay on the viewfinder screen to enable separate adjustment of highlight and shadow brightness, white balance, magnification and aspect ratio can also be manipulated via the EVF.
A new âKey Lineâ Art Filter joins nine other available filters on the Olympus E-M5 and enhances the edge lines of the image to make it look more like an illustration. New âCross Process IIâ and âDramatic Tone IIâ Art Filters provide variations on the popular existing filters, and the two new Echo effect for movies leaves a momentary residual image of a subject’s movements when activated during movie recording. Users who like to perform their movie post-editing on a PC will particularly appreciate the Full HD 1080i movie recording function, which adopts the MOV format (MPEG-4 AVC/H.264).
Powerful Portability and Rugged Durability
The striking, iconic design of the Olympus E-M5 is more than just looks; its magnesium alloy body is rugged enough to stand up to severe environmental conditions like heavy rain and blowing sand. The Olympus E-M5 employs internal seals extensively and, when the new M.ZUIKODIGITAL ED 12-50 mm f3.5-6.3 EZ lens is attached, this combination delivers an integrated dustproof and splashproof camera system. The electronic viewfinder section of the body is also made of magnesium alloy to ensure durability, and the FL-LM2 Electronic Flash that ships with the camera features the same dustproof and splashproof construction.
New Lenses and Accessories for Every Shooting Challenge
The HLD-6 Power Battery Grip, in the same dust- and splashproof construction as the Olympus E-M5 body, is an adaptable, two-part grip that can be used either as a landscape grip for easier handling or as a portrait grip with an additional shutter release. The portrait grip accommodates an extra lithium-ion battery to supplement the one in the E-M5, thus extending battery life. The FL-600R electronic flash (GN 50 at ISO 200 or GN 36 at ISO 100) offers improved recharge time and enhanced flexibility and operability for movie recording, and with a wireless control option. Equipped with a built-in LED, the FL-600R can be used to light movies and as a brighter AF auxiliary light. The MMF-3 Four Thirds mount adapter is designed for mounting a Four Thirds Standard-compliant lens on a Micro Four Thirds Standard-compliant camera body. The MMF-3, which also features dust- and splashproof construction, is ideally suited for use with Olympus’ similarly constructed High Grade and Super High Grade lenses.
The Olympus E-M5 is compatible with all Micro Four Thirds-compliant lenses, including two new lenses that Olympus will introduce later this year: the M.ZUIKODIGITAL ED 75mm f1.8 and the M.ZUIKODIGITAL ED 60mm f2.8 macro. The 75mm lens is a high-quality metal design with fast aperture settings for portraits and indoor sports shooting, while the dustproof and splashproof 60mm lens features 1:1 macro and a closest shooting distance of just 7.5 inches.
*1 As of February 2012. Among interchangeable-lens cameras.
*2 As of November 2011. Among interchangeable-lens digital cameras on the market, and using Olympus’ in-house test conditions.
U.S. Pricing and Availability
The Olympus E-M5 will be available in April and ships in the following configurations:
Estimated Street Price:
$999.99 (Body only, available in Black and Silver)
$1,299.99 (Black or Silver body with black M.ZUIKO Digital ED 12-50 mm f3.5-6.3 EZ lens)
$1,099.99 (Black body with black M.ZUIKODIGITAL 14-42 mm f3.5-5.6 II R lens)
For a complete list of specifications, visit the Olympus website: http://olympusamerica.com/cpg_section/product.asp?product=1583
75mm might seem a bit long, but they already released a 45mm f/1.8 (also metal) and now the 60mm macro, so really, they didn't have many focal lengths left to choose from :-)
I would have preferred 65mm f/1.8 for something similar to the old 135mm f/2.8 portrait lenses of full frame, but it would've clashed with the macro. At least that's what the marketing guys probably said! :-D
Olympus pulled off something good with this camera and they should sell plenty of them.
Judging from the placement of the electrical connectors on the vertical grip (as seen in this photo) I would say it can only be mounted on the horizontal grip and not directly on the camera, but it would be good to hear directly from Olympus.
Judging from the placement of the electrical connectors on the vertical grip (as seen in this photo) I would say it can only be mounted on the horizontal grip and not directly on the camera, but it would be good to hear directly from Olympus.
I think you are probably correct. Nothing in any of the info I have says that you can use it alone, but it also doesn't say that you cannot. I will find out. But I would say the likely bet is that you can't.
It would make no sense to mount the lower half with the vertical release only. You'd wind up with a ledge where the added top grip normally sits.
With the two offset connectors, that's a mistake no one will be able to make. There's obviously a cap on the body base you have to remove in order to mount the unit. Like past accessory Olympus grips, there's even a slot inside the top grip body to store the door so it's not lost... http://www.dpreview.com/previews/olympusEM5/images/grip1.jpg
The touchscreen is actually kind of a dealbreaker for me. I live in a cold climate, and capacitive touchscreens don't work very well with good winter gloves. Physical buttons do.
The touch screen is an OPTION, not a requirement. There is absolutely nothing you HAVE to do with the touch screen that can't be done with the given external controls, which is exactly the same as I now have with the E-P3.
Just because you have the option of using the touch screen does not mean you have to use it. If you just look at the camera it's pretty darn obvious the touch control option is just that, an option.
Being a 35 year user of the Olympus OM system I'm very intrigued and interested in this camera body and would like Olympus to have a winner here. However, the 200 minimum ISO speed is a disappointment. I wish it could have been at least 100.
There is no evidence of the facility for multiple flash controlled by the camera (TTL).
No suprise that there is yet another model of battery/charger required!
Harold, sure there is. The included clip on flash works just like built-in units, controlling One or more external flash units in any mode, including TTL.
Thanks, Greg,
I'll take a look when I have more time.
Having just completed assembling my OM/T-flash requirements in recent years, and suffered the limitations of the EP-2, it will be good to have much of the OM experiece available with digital.
Looks like a classic OM and weather sealed? I could be tempted by a genuine dSLR successor to the OM-4. Off to a good start. It'll be interesting to read owner opinions this year.
As a Pentax user who is interested in going mirrorless, I was quite excited about the K-01... but I have to say that I'm much more excited by the OM-D. The size and form factor are exactly what I've always wanted in a DSLR (I basically wanted a digital version of a Nikon EM or Nikon FG) -- plus it's weather resistant, a feature I've always longed for (but assumed would never be available in a camera of this size and price range). Kudos, Olympus!
I'll have to weigh the pros and cons of moving down to a smaller sensor... but considering how the technology is constantly improving, I wouldn't be at all surprised to see images out of this camera that are nearly as good as today's APS-C cameras.
I think the only thing different about the MMF-3 compared to the MMF-2 is, the new MMF-3 is gasketed/sealed so one can mount their sealed four-thirds lenses to the E-M5 and the entire system remains sealed.
The "sealed" part of the MMF-3 will not matter at all to an E-P3 user since that body is not sealed like the E-M5.
Oculus, I still have that extra grip battery for the E1 grip you sold me years ago. Still takes a charge and holds it, too....
This system does everything one would want in a camera, in a smaller form factor and with the already good MFT image quality (reportedly) significantly improved. Those who complain that it isn't APS-C are really out of touch. You can take practically any image you need with this format, unless you are in the 1% who fully exploit a full-frame or medium format camera.
