I have owned both and while they have the family (Olympus Pen) resemblance, they are really different cameras. I had the E-P5 for years before purchasing the Pen-F and don't really have to think about the handling. Originally, I wasn't sure that I would like the tilting screen instead of a fully articulating screen (for short topical videos where I would be in front of the camera). This didn't turn out to be an issue since I found the tilt screen to be way more useful than a fully articulating screen in retrospect.
When the Pen-F was announced and before I knew anything about it, I decided that I would not be purchasing it. After watching some early (favorable) reviews, I was pretty hooked on the design and jpeg effects. I am also highly nostalgic and the design plus black & silver retro look and integrated EVF reminded me of the film cameras of yesteryear. The high res capability for a controlled (non-moving) shot was another plus.
OK, so I purchased the black & silver Pen-F and am really happy with my purchase. My one compromise is the screen. I am not a fan of the swing out nature of the fully articulating screen! It was so easy to tilt the E-P5 screen without much of a conscious thought. There is entirely too much conscious thought involved with the swing-out screen design. I keep the screen retracted in the reverse position with the black pebble side facing out with the EVF an easy option (just like the old film cameras). I have tried to get used to the screen and find that I have the most success with the screen facing out but lying flat (no tilt). Low shots demand that I swing the screen out and tilt.
Initially, I thought that I would keep the E-P5 and the Pen-F but I found myself reaching for the familiar and comfortable E-P5. Finally, I talked myself into selling the E-P5. I was aware that I was not giving myself a chance to get used to the Pen-F and there was no sign of that changing as long as I had the E-P5. In the back of my mind was concern about the control wheel problem that seems to surface if one waits long enough and since my E-P5 was still in pristine condition, I ended up selling it.
The Pen-F has some amazing attributes, especially the effects for jpeg images. These attributes tipped the scale for me. I would not call the E-P5 a poor man's Pen-F. When it was released, there was some emphasis on its "Pro" performance features that still look good for an older camera. In my experience, the emphasis of the E-P5 is on practical performance. I think even Olympus admitted that the Pen-F was not designed to be a successor to the E-P5 (and thus compete on superior performance and additional features) but a camera that would recall and pay tribute to its film cameras while capturing the imagination of nostalgic people like me. The looks nailed it for me but the attributes (jpeg effects, integrated view finder and high res images) gave me a reason to part with the purchase price.
Jim