Am I crazy? Considering OM-D over K-5II...

High ISO and DOF advantage of APS-C in comparison to m43 is minimal, and anyone not satisfied with m43 in that regard would go full frame, not APS-C.

I think you should compare them again, if you ever made that comparison in the first place (OMD sensor is also sensor made by Sony, btw). Mentioning DPR, do you actually care what is our hosts opinion about these questions ? I don't think so, but here it is:

"The E-M5 can't completely overcome the light capture disadvantage brought by its smaller sensor, compared to APS-C, but it reduces it to the point that it's irrelevant for almost all practical purposes. At which point we think its size advantage, in terms of both body and lenses, will outweigh that difference for most uses. If you're absolutely unwilling to compromise on image quality then spending twice the money and moving up to the bulk of full-frame is the only way of gaining a significant step up from the E-M5."

Are you blind or what ? Take a look at lens chart again. There are 8mm, 12mm, 14mm, 17mm, 19mm, 20mm, 25mm, 30mm, 45mm, 60mm, 75mm primes. Now go to slrgear and take a look how those lenses perform.

You can say as many times as you want, it that doesn't mean it's wise - it's not.

Can't use them anywhere except on another manufacturer body 

In m43 you have unique case where two camera manufacturers shares the same mount, and their lenses are completely compatible between bodies. With adition to that, you can mount any native (big) 43 lens (via either Oly or Panny adapter) and it will work as any native lens, but with slower auto focus (slower than m43 - not useless). Where can you use Pentax lenses and have auto focus other than with Pentax (APS-C) body ?

As we all concluded (me, DpR, and any other review site on this planet), the OMD is small enough to have a size advantage without significantly compromising IQ (in comparison to APS-C). If THIS is not enough good for you, the only way up is to go full frame.

You are right, The Q is in totally different league there.

You obviously had never handled an OMD or it's RAW file. I suggest try one, you would be surprised.

Again, the K-5 (any version) is a fine camera and obvious choice for many dslr shooters, but your reasons over m43 format are completely wrong.

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cheers
JO
http://kresimir.smugmug.com