Digicam Review has posted a review of the Olympus E-P1.
Image quality is excellent – with excellent colour, and good levels of saturation and contrast with excellent detail. Noise levels were very low and provided useable ISO1600 (and possibly higher) – with less colour noise than even the Canon 450D, and provided much better detail from the Olympus kit lens, than the Canon’s kit lens.
For more on the E-P1, see Photography Bay’s Olympus E-P1 Reviews and Resources.