I've had both - currently D300s, which I only got because I sold my D300 to try downsizing to m4/3 format before going back to Nikon(but that's another story...).
Off topic : I find the m4/3 a bit intriguing as a second small walk-around/snap-shot solution. Care to share a few words of that other story?
------- Eirik ----------
To start with, apologies for hijacking this thread to answer Elrik...
Elrik, for me, the problem with m4/3 was :
1. it was not really "snapshot-size", in other words, still too big. For me, snapshot means one camera that fits in my pocket with its own lens: a one-in-all package. Carrying the 14-42mm and the 17mm f2.8 (or better, the Lumix 20mm f1.7), plus a flash, was just the same issue as with a DSLR, only smaller problem.
2. I tried to replace my DSLR with m4/3. That, coming from a good DSLR like the D300, was a mistake. My biggest gripe was that useless wheel at the back. I was in the mountains trekking and I wanted to take a picture of a flowing river. So, I set it to Shutter-priority mode to get a slow shutter speed and get that silky-looking effect of the water flowing. Of course, I had to adjust then the Ev compensation and the whole thing went downhill from there. I was turning that wheel, but doing so also was pressing some function that comes by pressing down on the right, left, up or down part of the wheel. So I was turning the wheel and changing inadvertently the ISO, the landscape to macro mode, and G** knows what else...Whereas with my D300 (now D300s) it's all so quick and transparent. That was when I had enough. Added to this, it's very hard to shoot anything that moves. Try looking at pictures people have taken with a m4/3 camera and see how many pictures are of things that move (not many...).
On the plus side, I got some very pleasing shots with my Olympus EP-1 and later EP-2. For example:
I also had a Lumix GF1, and a G1 (because of the viewfinder). Although possibly better cameras from a technical point of view (for example, faster AF), they were un-inspiring to me compared with the image quality from the Oly.
In the end, I got a D300s and, later, a Canon S90 as my snapshot camera. I tried the LX3 again (used to have one before) but didn't like it so much anymore. Also not quite pocketable, and that irritating lens cap... I also seriously considered the EPL-1, which I think would be my pick of the bunch in terms of m4/3: it's quite small (although nowhere near the S90), it has built-in flash, and it's very sharp due to a very weak anti-aliaising filter.
But I've been very pleased with the S90, both i terms of size, image quality, and ergonomics. Example of image quality with S90:
Right...back to the thread....Cheers.