I got this camera about three months ago. With the two kit lenses. I've spend months comparing Nikon, Canon and Olympus. In the end the olympus won because of the great price/quality. NIkon is more expensive, also if you look at their lensen. Canon the same story, especially if you consider the lenses with build in image stabilization. the olympus already has it build in so their lenses are cheaper. Took thousands of shots since I got it. I was surprised with the great pictures and especially the great speed compared to my great point and shoot camera.
a few pros:
Great image stabilization
Speed (I love the ability to keep on shooting without waiting)
light weight (every time I hold my friend's Canon, I clearly feel the difference)
easy to use (yes, I am a novice and don't think it is hard just read and try)
Battery life is very good, way longer than nikon/canon
great price

Cons:
LCD is useful, especially with a tripod, but beware ps users, it is not the same.
Auto focus in low light is bad, for instance in a restaurant with dimmed light. It gets even worse because the camera tries to get into focus by bursting flashes which freeks everyone out. If you get this camera you can think of leaving the great kit lenses and buy a lens from the pro series. Especially the new lenses with SWD focus systems, they are said to have blazing fast Auto Focus and nice pictures, I'm getting the 12-60mm soon ! If that is too expensive, look at the 14-54mm...

Overall I'm very satisfied with the camera and the software.

S.B. Veeger, Amsterdam, Netherlands, Europe.