NEX-3N draws a bead on the E-PM2/E-PL5

This was my take-away as well, at least until we see some tests.

At this low price point it's all about which features to include vs. which to sacrifice. Even without a touch-screen and hotshoe, which are missed, it presents a compelling featureset with its tilt-screen that's more compact than the pricier E-PL5's, and remarkable size given the larger sensor and built-in flash. I love the kit zoom's 24-75mm range and size; if a decent optic it would stay on this as a second tier kit to my E-M5.

Makes me now hesitate a bit on the E-PM2/E-PL5 as a compact back-up to my E-M5, which I'm sure is what Sony had at least in part in mind.  I now fully expect their prices to drop sooner rather than later, tilting the argument back their way for me given lens compatibility.

Good for the breed, we'll see how Pan/Oly respond in their next cycle.

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Sailin' Steve