Gussy it up however you want, Trebek. What matters is: does it work?
Olympus has mastered the art of the increasingly popular slow leak with the announcement of the new Pen E-P1. Pentax tried to make the "leaked" photos of their new K-7 more illicit-looking, but the build-up and pay-off of the E-P1 announcement has been incredible. The long and frenzied threads over at RangeFinderForum and the Fred Miranda Forums are your evidence.
I've ordered a product like this before (Sigma DP2). Wasted a pretty penny I don't mind telling you and if the Pen's iS (image stabilization) really works, I'll order a dozen.
The M43 Playing Field (with some competition):
Now that we have official specs, we can proceed with the inevitable comparisons with Panasonic's G1 and GH1. I've thrown in the Canon T1i and Pentax K-7 as well, since they represent different levels of the compact DSLR. The DP2 is in there to feel some shame.
EFoV is short for "equivalent field-of-view". Simply saying 'equivalent' is a bit misleading.