E-300: A very good camera with the best kit lens out there.
D70: A very good camera with lots of options
Facts:
1. Each has its share of fans and detractors (just read the forums).
2. Each is capable of capturing some stunning images.
3. One may cost more (when the kit lens is involved).
4. Both depend on the skills of the person behind the viewfinder.
5. Both cameras are capable of great color renditions - albeit
different in tonality and overall look (whatever turns you on here).
6. Both will make you a happy camper - provided you practice sound
photographic skills, principles of composition, and a knowledge of
how light affects a camera meter.
I just happen to have both - and both do well by me. Personally
however, I love the color renditions, tonality - and whatever other
terms you could use to describe how the color looks in an image -
of the Olympus line. And once you purchase an Olympus E-system
DSLR, something happens to the way you view images. As you get
better with the E system cameras (It's an ongoing process), you
will become spoiled. Having said that, and shooting with Canon,
Nikon, and Olympus systems - my ultimate pride and joy tends to
favor the Olympus line. When you look at images properly captured
by Olympus E system DSLR's you are struck by a strong sense of
immediacy - a palpable feeling that something is special here.
That feeling does not leave you. Then you wind up perusing the
other forums - and although periodically you come across some
fantastic images - you tend to return to the Oly forums because
that's where you realize you belong.
Not very scientific, but simply put in layman's terms.
Have a great day.