The waiting is killing me !!

The E-PL5 with ext.VF is a good solution if you dont use external flash...

The E-P5 is definitly comming but which form factor is comming?:

1. the same form factor as the E-P3

2. RF style (simmilar look with the NEX-6/7)

Ad. 1 - than it would be sensible to have a swivel hi-res LCD (921K dots, 4:3 aspect ratio) with better colours in this case as a subtitution of lacking EVF. Q: Will they include flash?

Ad. 2 - they will use wishful EVF but as a "penalty" they give you tilting LCD at the best case and get rid of the built-in flash.

Lines above represents current Olys thinking, if you want EVF and swivel screen (and internal flash) you will have to buy higher model. Rumours say there are two new cameras on the horizon - one above the EM5 and one bellow the EM5.