Olympus OM-D E-M5 Micro Four Thirds camera preview (video)

Olympus has embraced the camera designs of yesteryear for several generations, from its first Micro Four Thirds models to last year's E-P3. But now the Japanese camera maker is stepping up its retro game, announcing a brand new line of Micro Four Thirds cams. Meet the OM-D. A dramatic departure from the more modern-looking PEN cameras, this new line of mirrorless models, specifically the E-M5, in many ways duplicates the design elements of the 1970s-era OM System. The first consumer camera in that SLR lineup, the OM-10, served as clear inspiration for the slightly boxy, black or silver and black magnesium alloy digital model we have today. We were able to spend some time with the Olympus E-M5 before tonight's announcement, and were very impressed with what we saw. Jump past the break for our impressions and an Olympus-guided video walkthrough, and thumb through the gallery below for a detailed look at the company's answer to the Fujifilm X-Pro1.
The 16 megapixel Live MOS Micro Four Thirds sensor is the crown jewel of the E-M5, and comes complete with five-axis image stabilization, allowing the sensor to shift up, down, forwards, backwards and diagonal to compensate for camera movement, enabling what Olympus reps describe as "a built-in Steadycam." Perhaps even more impressive, however, is the camera's autofocus system. Olympus claims that the E-M5 features the "world's fastest autofocus," of any camera -- yes, that even includes top-of-the-line DSLRs. We went on a quick indoor shoot with the cam and were incredibly pleased with the focusing system's performance -- subjects came into focus instantaneously, even in low-light. We can't confirm that Olympus claim, but this thing is definitely very, very fast.

While the E-M5 clearly outperforms the E-P3, it's designed to sit alongside that camera and other PEN-series models, with a higher price point. In addition to autofocus speed, it bests the E-P3 in low-light performance, offering an image sensitivity range of ISO 100-25,600. Unless you prefer the more modern design of the PEN series or don't want to spend for the E-M5, there's really no reason not to opt for this newer, faster model. We were not permitted to take home images captured with the pre-release model we used during our demo, though we did snap a few frames at both ISO 25,600 and ISO 12,800. Noise was indistinguishable on the articulating 3-inch touchscreen during an initial preview at ISO 12,800, though we could make it out in the ISO 25,600 shot. Noise became much more apparent when we zoomed into the image, of course, but according to Olympus reps, ISO 12,800 is "totally usable," and it's important to note that our sample was an early version of what the company will eventually ship.

The camera is quite intuitive, with a simple multi-tab menu system and a variety of dedicated controls. There are two dials up top, just as you'll find on the Sony NEX-7 -- in manual mode, one adjusts aperture while the second changes shutter speed. Touchscreen control is available as well, with tap-to-focus and touch-shoot functionality, but you'll need to use the buttons to the right for more complex adjustments. As you'd expect for any interchangeable lens camera, there's a full manual mode, along with the usual aperture- and shutter-priority, program and automatic shooting modes. There's a nine-frames-per-second burst shooting mode when in single-shot autofocus mode, which is among the fastest we've seen in a mirrorless model -- that consecutive capture option drops to 4.2 fps when snapping with continuous autofocus, however.

Overall, the E-M5 sounds like a win, but how much does it cost and when can you make it yours? Olympus has priced the mirrorless cam a hair shy of a grand, at $999.99. You can also purchase the black or silver E-M5 as part of a 12-50mm or 14-42mm kit, with pricing set at $1,300 and $1,100, respectively. Consider us sold. The camera supports all existing Micro Four Thirds lenses and accessories, but two new higher-end primes are expected to hit stores later this year, including a 75mm f/1.8 portrait lens and a splash- and dust-proof 60mm f/2.8 macro. There's also a new splashproof Four Thirds adapter on the way, along with an excellent optional camera grip with detachable battery. And while you may have noticed that there's no built-in flash, the new FL-600R should have you covered, with a guide number of 50, a built in LED light for video capture and a quick-charge battery. For now, that's all she wrote, but we'll certainly be hearing plenty more about the OM-D series in the months and years to come.