To me, this seems like a no brainer. But everyone has their own opinions. If you like the J5, then you should buy it, and not worry about comparing it to anything else. After all, it's your money.The answer to the first question is likely yes...So lets just focus on the 2nd...
I have really enjoyed the J5 images thus far. Since I have the v3 was figuring lets skip the v4 and just get the J5. On B&H site shopping (highly dangerous). The Oly OMD EM5 is on closeout (with the 2nd gen MK2 OMD EM5 out...) at a couple of bucks more than the Nikon J5. WOW!
You forgot a few more things the EM5 has that the J5 lacks:
- weather sealed
- magnesium alloy body
- IBIS
- EVF
- Not a "slightly larger sensor"... one TWICE as large!
In the end, just buy whatever suits you best. And please remember, you are comparing a brand new camera against a three year old camera on clearance sale. If you are looking for a bargain the one on clearance is the way to go.
Yes, the prices are close today. But that's like comparing a ten year old BMW to a brand new Chevy. The price will be close, but the quality and features will be a lot different.
There are currently over one hundred lenses sold that come with a native MFT lens mount. A dazzling array of primes that cover everything from 5.8mm to 400mm (11.6 to 800mm in FF terms) and there are around eight that are F/1.2 or faster. So if you plan to use a lot of different lenses (without resorting to adapters), then the advantage goes to the EM5.
As you point out yourself, there really isn't a bargain priced J5. $500 is what everyone sells their entry level ILC cameras for. If you wait three years (the same age as the EM5) you will find the J5 selling for $200 or less. If we compare current models, then I'd put the J5 up against the Panasonic GF7, since their features and specs are more similar.
My choice is clear, but you should buy whatever you want.
