After attending the local Olympus OM-D (model ID E-M5) a few minutes ago, I’m here to provide a hands-on preview report on this awesome camera.

The launch event was done simultaneously across all countries that will officially carry the Olympus OM-D, the sheets were unveiled at exactly 11AM Singapore time and we can now feature the Olympus OM-D.

The original Olympus OM line back in the 70s boasted to have the smallest bodies in an SLR system and Olympus continues its tradition with the Olympus OM-D in terms of the concept of a small, high-performance interchangeable lens camera system, sans the SLR mirror box assembly.

The body is made of high-quality, yet light magnesium alloy and offers the legendary Olympus weather-sealing present only with the flagship Olympus E5 previously.

The standard M.Zuiko 12-50mm F3.5-6.3 EZ kit lens as well as the kit-provided Olympus E-M5 flash unit are also weather sealed!

The design of the body is clearly a modernized version of the original OM film SLRs but with a flair of the Olympus E-P3 Digital PEN series.

The Olympus OM-D features a highly-functional and traditional wheel knobs for most settings, particularly important ones like aperture and shutter speed adjustment right beside the shutter button.

Build and fit is exceptional, better than the Olympus E-P3 (and that’s a pretty darn good finish already) thanks to its magnesium alloy body with weather seals all over.

The rear panel is dominated by the swivel screen that snaps tight and securely, it can swivel flat up or down at 90-degrees for those right-angle shots, and everything in between. It cannot swivel out, however. It’s amazing that they can do this and still retain the weather sealing abilities of the camera.

Above the camera is the most exciting and obvious feature of the Olympus OM-D, the viewfinder. Olympus acknowledged that most advanced users still prefer a proper ‘look-through’ viewfinder rather than composing with the rear LCD screen.

The viewfinder itself is quite a specimen, sporting an HD resolution with 120fps refresh rate, it offers a 1.15x max magnification and 100% field-of-view.

In addition, there’s an eye-sensor right next to the viewfinder so the main LCD automatically shuts down and the EVF activated when you position the camera near your face.

Olympus was able to integrate the EVF dead-center of the camera, allowing a very natural and ergonomic use of the viewfinder, just like traditional SLRs. Of course, the advantage of an EVF still remains such as the what-you-see-is-what-you-get feedback, immediate exposure adjustment simulation, and more.

The buttons is a mix between the E-P3 and the E-5. Gone is the annoying bright blue light of the PEN series and this really looks great both to hold and look at. You’ll notice the area where your thumb naturally lands is a protruded rubber grip that resembles the film advance lever of film cameras – nice touch!

Lastly, the buttons feel a lot better than the Digital PENs, they’re very tactile and you can really feel the individual buttons without taking your eyes off the camera. According to Olympus, the buttons feel different due to the weather sealing elements behind the buttons as well.

The Olympus OM-D E-M5 is thinner than the film OM-4 and it’s even smaller than the Olympus E-420. The lack of a mirror box makes this camera very small, yet the availability of the grip and overall shape of the camera compensates the size issue.

In the image below, you’ll see the overall thickness of the OM-D with the optional battery/portrait grip, the Olympus HLD-6 attached. It’s still a lot thinner than DSLRs.

The Olympus OM-D’s boasts the fastest AF system when coupled with the standard kit lens, including DSLRs!

While I don’t have a lab benchmark testing facility, I can tell you that even at f/6.3 at maximum zoom in a low-light National Geographic store (where the event was held), the AF locked onto the faces accurately, quietly and really quickly with virtually no hunting. It’s really fast especially when you consider that this is using contrast-detect system.

The contrast detect AF system also allows a continuous, multi-axis face-detect tracking across the entire frame.

Matching the fast AF is the ability of the Olympus OM-D to shoot at 9fps in single-AF mode. The shutter sound of the OM-D is very, very pleasing. It’s quieter than a rangefinder, in fact, it’s as quiet as the Fuji X100, if not quieter.

This makes the camera a very discreet, yet capable sport and candid shooter as well.

The first-generation of image stabilization by most camera makers compensate for left/right, up/down, and front/back axis of movements, then Canon’s later Hybrid IS system found in the Canon EF 100mm f/2.8L IS Macro [review here] that compensates for yaw motion as well.

The Olympus OM-D has all of that, and then some. In addition to the X/Y/Z/Yaw motion compensation, it also compensates for rotational camera shake!

The image stabilization feature works on movie modes as well, so you’ll be able to take Steadicam-mounted like stability with your videos when you’re following the moving subject.

Announced with the Olympus OM-D are some lenses and accessories that work with all of Olympus’ Micro 4/3 cameras such as:

This is the standard kit lens included with the OM-D, and it’s stellar as a kit lens. The focal length equivalent on 35mm would be 24-100mm, which is a very versatile range that fits almost all shooting subjects.

The lens itself is weathersealed as well, now ask yourself, when was the last time you had a kit lens that’s weathersealed? The zooming mechanism is internal, so the lens doesn’t move back and forth during zooming, in addition, the zoom ring can be both powered (zoom by motor like a point-and-shoot) as well as passive (manual) by flicking the zoom ring backwards.

The kit lens also features a macro focus-limiter, often found only with telephoto or macro lens, allowing you to skip farther focus distances during close-up shooting for even faster AF performance.

As I mentioned, the AF is lightning quick even in low-light and smallest aperture setting (f/6.3), it’s whisper silent as well.

The Olympus’s answer to a premium portrait lens. With a equivalent focal length of 150mm, and a wide aperture of f/1.8, this will be a great addition to any portrait artist.

The 60mm f/2.8 Macro of Olympus will probably be the most popular add-on lens after the standard kit lens. This lens offers full weathersealing capabilities just like the OM-D and 12-50mm kit lens. As a macro lens with 120mm equivalent focal length, this can couple as a fine portrait lens as well.

This new external hotshoe flash is quite a feat of engineering as well. Sized smaller than the current FL-36R flash, it actually takes in FOUR (4) AA sized batteries instead of the FL-36R’s 2 AA battery. In addition, the flash also offers an LED light for video shooting and wireless TTL capabilities, controllable by the factory add-on flash unit.

This adapter allows you to use standard Olympus 4/3 pro-grade lenses on the OM-D, an adapter that fits the original OM mount will also be available, so you can use classic Zuiko lenses from the 70s-90s with no problems.

As mentioned earlier, the Olympus HLD-6 attaches to the bottom of the Olympus OM-D to improve balance and handling, especially for those with larger hands. The grip fits an extra battery that extends the shooting time as well of the camera.

Unfortunately, we weren’t allowed to put in our memory cards for some sample photos, but I’ll let you guys know as soon as I receive a unit for review in the near future.

There are several neat features mentioned during the launch event, one of them is the Bulb Mode Live View wherein you can literally see the exposure unfold during a bulb mode sequence. In the past (as in before this feature was available), shooting in bulb mode was pretty much a ‘best guess’ affair, you’ll never know what you’ll get.

With this new Bulb Mode Live View mode, you activate it and you’ll see exactly what has been recorded in real-time on the OM-D’s LCD. You know exactly when to stop when you get the exposure you want, no matter how long your shutter stays open!

The Olympus OM-D also has a nifty movie processing mode called the Echo modes, either one-shot or continuous. Sorry I don’t have a video right now, however.

Finally, another feature mentioned was you can actually set shadow and highlight limits in-cam so the exposure meter can worry about the midtones. That’s like placing a histogram limiter for highlight and shadows in Photoshop, allowing the metering sensor to adjust everything in between for maximum tonality.

With all these juicy info, I’m sure most will wonder whether it can compare to the Fuji X-Pro1 that’s coming out soon. That’s one camera that has excited many, a retro rangefinder-like camera with interchangeable lens. But in my opinion, they’re so totally unrelated in so many ways.

First is the price, the Fuji X-Pro1 costs $1,699 [check price] for the BODY ALONE, and additional prime lenses will set you back another $600-700 each. That brings the price of a basic, shootable outfit to $2,300, while the Olympus OM-D’s basic kit cost $1,299

Yes, the Fuji has a wonderful APS-C sensor, but it’s also huge compared to the Olympus OM-D, it’s heavier as well and less options with lenses. The Olympus is more versatile, practical, and in a way, durable because of the weathersealed body as well.

In short, the Olympus OM-D is a more serious version of the fun-and-quirky PEN series, but retains all the cost, flexibility, and portability of the Micro 4/3 format. The Fuji X-Pro1 is more of a niche camera, an expensive alternative to the usual DSLR but a poor-man’s version of the Leica digital rangefinder.

The Olympus OM-D E-5M clearly has a unique place in the crowded interchangeable lens camera segment. The Micro 4/3 format has established itself in the marketplace as a legit and profitable segment in many markets, particularly in Asia. In fact, the Olympus Micro 4/3 sales have hovered around the same figures as Canon and Nikon’s DSLR segments the past year in Japan, Hong Kong, and Korea.

The OM-D is quite a looker indeed. The styling is even more pleasing than the original Digital PEN (E-P series) and it exudes a serious, professional look. The magnesium body, EVF hump, add-on grip, and the weathersealed body all adds up to the Olympus OM-D being a serious tool that even professionals should consider, particularly if weight and portability have been issues to you.

Imagine how much smaller your travel kit would be with a full Micro 4/3 system.

Speaking of which, the Micro 4/3 Composium now consist of not only Olympus and Panasonic, but also Sigma, Tamron, Cosina, Kenko, Schneider, Komamura, and Zeiss optics. So expect more options for the Micro 4/3 system down the road, and it brings back memory of the M42 mount days (OK, I’m dating myself a bit now).

With a totally new sensor, faster AF, more lens options, a more traditional ergonomic feel, and aggressive pricing, the OM-D should be a home-run for Olympus.

Retail price current is at $1,299 [check price] for the OM-D + 12-50mm lens kit, $1,099 [check price] for the OM-D + 14-42mm lens, and $999 for the body only.

For more information, visit the official Olympus OM-D E-M5 portal here http://olympusomd.com/region/

You can see all Olympus OM-D items and the pre-order items on Amazon here.

So what do you think? Do you like the Olympus OM-D? Will it convince you to get started with the small camera movement? Chime in below in the Comment section!