Wow,
What is full frame, cause I thought anything that filled the frame was full.
It's funny I buy fast lenses and oh so very rarely ever use them wide open.
Like Michael I enjoy the em series, I use it for commerce and find a lot of pluses. It's not the costs (though cost is important) it just the character of the file, the handling of the camera and I love the ability to go from a 4:3 drop to 2:3 at a flick of a switch. Also it's one of the few modern digital cameras I can manually focus and if you love beautifully built cameras it's a beautifully built camera and no I get nothing for that statement, I pay retail.
Speaking of beautiful cameras, last night I messed with a Leica S at the Mayfair studio and even with that beautifully big ovf when I put it next to the little em1 (and boy does the em1 look tiny next to it) I didn't see a drop off in the ability to manually focus or autofocus in low light, though I'll admit the Leica S is really something special.
Like Michael, I love cameras that are made by camera folk, not marketing guys and in a strange way I think Olympus and Leica are somewhat alike in that process.
You know I shot this with an 85mm 1.8 probably stopped down to around F3 or 4 or maybe more. I never look at F numbers, I look at shutter speed to hold sharpness and just adjust F stop to get the background look I want.

I shot this with a Canon at about 400 iso and at the time had I owned the em-5 or , with a 45 or my contax with a 120 there would have been so little difference nobody would have known.
There's more to a camera than just the numbers.
IMO
BC