I own Canon EOS 550D for two and a half years and I am very pleased with it. Before that, I used Olympus C-770 UZ some three years and fired thousands of pictures with it. However, browsing the other day photos on computer from both devices, although Canon is much more powerful, and Olympus walked slowly into oblivion, I concluded that the C-770 with the quality of photos may still have to offer a lot.
Photos of nature taken by the daylight are vibrant, with vivid colors. I can say that in these conditions are maybe even better than on Canon (although many aspects are simply not comparable). Images require very little post processing, are very sharp and with good saturation. 10x zoom system is also excellent, although for the magnification you should have a tripod because otherwise images turn out to be blurry.
Another aspect which I am very satisfied with is the excellent macro mode (it has a super macro mode that can take pictures as close as 3 cm to the subject!)
Photos are not so good in low-light conditions (dusk, closed spaces with little light), and focusing is hard in such difficult conditions.
The biggest problem is the very poor battery life (even with spare battery, both charged and relatively new, would be barely sufficient for one-day excursions). Both batteries are unfortunately depleted, and they are not able to fill up, and I do not know where I can get replacement (in this respect, I would prefer that instead of Li-ion battery it uses standard AA batteries, I think they are used in a previous models). All in all, the C-770 is in its rank excellent camera, with excellent workmanship and superior image quality (although in good lighting conditions)
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