Camera for taking everywhere
Raise the budget a tad and I'd look at the E-M5
I have both - for "discreet" use at "dressier events" I use a very thin strap worn diagonally which puts the camera at hip level underneath a jacket or suit coat. It's virtually invisible and always available to shoot within 5-10 seconds.
I tend to prefer the E-PL3 for "stealth mode" - and also carry it as a back-up body when primarily shooting with the E-M5. These days, the E-M5 lives in a "camera bag" with a bunch of other stuff, and isn't *ALWAYS* with me. The E-PL3 lives in my briefcase and is.
They share: 12, 17, 45, 75, 500mm lenses. The 17 is the "briefcase" lens on the E-PL3. If I could bring myself to remove the lens shade, it would fit in a suit jacket pocket with the 17mm mounted. But, I can't, so it doesn't.