[font color=\'#000000\']David-
Well, I made the trip to the nearest Oly dealer on Friday. You are certainly correct about the "feel" of the E-1. On first impressions, it beat the competition (D70, D-Rebel, *ist, 8Mp Sony & Nikon & Canon digicams) soundly.
Here are a few other observations from my limited time at the store:
1) The Sony, Nikon, & Canon 8Mp digicams are significantly smaller and lighter than all of the "entry" D-SLRs at which I looked. This is probably obvious to most users of this site, but I have to admit that I was surprised by the degree of difference.
2) The doors and buttons on the E-1 are VERY solid. Fit and finish is superb. I was surprised at how much more solid the E-1 felt... compared to every other camera listed above. I guess that if one doesn't need the strength/environmental sealing designed into the E-1 that it may be overkill and therefore an unnecessary expense.
3) Without quantifying actual times, I was impressed with the start-up & AF speed of the DSLRs. Here was my "test"... While holding the camera at my chest, I pressed the ON switch. I then lifted the camera, composed a shot (no zoom), and pressed the shutter release. I found that the E-1, D70, and D-Rebel were all "fast enough" to not slow me down. (They all captured the image without any perceptible delay as soon as I pressed the shutter release.) I freely admit that I'm a beginner and that others would probably be able to "quick-draw" and fire faster than me... but for my purposes, I'm satisfied with the start-up of all of the D-SLRs. My time at the counter was limited so I did not test the *ist.
Since I like the ergonomics and quiet of a "manual" zoom, I have eliminated the Canon and Nikon digicams from my pool of potentials. The store I was visiting did not carry the Konica A2, so the F828 was the only digicam that I tested w/ respect to start-up performance. To make a long story short... no power = no composing. While the Sony actually started relatively quickly, I did notice that I was able to get the viewfinder (EVF) to my eye before it was ready to display a clean image. There wasn't much of a delay, but enough to notice. For real-world use, the speed difference for my purposes probably wouldn't matter.
However I did learn something altogether unrelated to the test. Composition is MUCH faster with an optical viewfinder than with the Sony EVF. I'm not sure why, but I noticed a real difference.
4) The lenses on all of the D-SLRs & the F828 were comparably "smooth" to operate (zoom rings, focus rings). No big differences noted.
All things considered, the E-1 put on a great show. My major concern is the lack of manufacturers offering 4/3 lenses. The Olympus glass is very nice but a little competition would help the prices! BTW, you were correct about the 1 August price reduction; according to the guy at the counter the new MSRP for the body is $1299. He hadn't received the memo on the lenses yet; I'm supposed to hear back next week. I'll update when I get the info.
Rob[/font]