Things changed slightly, now I have something with Image Stabilization, light in weight which also allows me to carry a compact Velbon ‘plastic’ tripod along to support it. I can even take a risk of shooting in low light conditions and that too hand held.
Yes it is E-510, latest innovation from Olympus with features like Image Stabilization, 2.5"/6.4cm HyperCrystal LCD, Compact in size; end of the day it is Built to Kill.
E-510 can be deceiving when it comes to its size and price, but all that I guess is just the part of its appeal.
It has all the features a DSLR should have, addition to that this small baby is packed with new features like
-The high-resolution, 2.5" HyperCrystal™ LCD screen (230,000 pixels)
- Advanced Image Stabilization
- Supersonic Wave Filter™
- 10-megapixel Live-MOS image sensor
- Portable, easy-to-handle body with grip design
- 29 exposure modes
- Flexibility of two memory slots
- New easier-to-read menu background color TruePic III™ processor
Like I said earlier the size can be deceiving, but the ergonomics can match some of the pro equipment available today. Even though small in size, the grip is impressive, feels better & comfortable – for me it feels like a PRO.
Button placements – minor changes, but while holding in one hand, I can easily control the startup, exposure, white balance, AF, ISO and not to forget the IS option.
Not to worry, if you still find buttons difficult navigate - the LCD info is packed with all of the above to be changed and at the same time allows you to see the entire settings.
Well that is what you need when on the move – quick and easy to use, compact & light that makes it easy to control.
I was not into having a SLR with LCD, but for some cases I preferred using the LCD instead of the viewfinder – low angles. For me that is not a very interesting feature but, my image on play back was clear to the dot as promised and easy for me to identify my mistakes if any. The saying "Don’t believe in your LCD" I guess no more stands true. Addition to that it is clear enough in bright light.
Colors from Zuiko had always been perfect, but I "heard" that noise was the reason for some photographers to avoid using Olympus for their professional use – like weddings, events, etc. With Noise Reduction set to ON, you will be amazed with the results. Its not just low noise, you can consider it as NO noise; even at ISO 1600.
To be more accurate in my testing I took below images at night between 10:40pm to 11:30pm. Anywayz the exif of my test images would say more than my explanation.
First things first – White Balance Accuracy
Set to Auto
Set to 5300k (Night Mode)
Sharpness with IS set to ON
Against the pillar at ISO 100, f3.5 @ 1/ 2 sec
Leaning against traffic light at ISO 1600, f3.5 @ 1/ 13 sec
Leaning against lamp post at ISO 1600, f3.5 @ 1/ 8 sec 
Additional Images (Handheld)
ISO 1600, F4.5 @ 1/ 80
ISO 1600, F3.5 @ 1/ 8
ISO 1600, F2.8 @ 1/ 4 
Ok now this baby works very nicely with other small babies like 14-42mm, 11-22mm, but how does it perform with the big guns?
I gave it a try with 35-100mm just to find some faults. I was surprised to know that Olympus has taken care of that too. Balancing E510 with 35-100mm was the easiest thing that I could do even after a tiring day.
35-100mm set to 40mm : ISO 1600, F4 @ 1/ 40
35-100mm set to 62mm : ISO 1600, F2 @ 1/ 100
35-100mm set to 100mm : ISO 1600, F4 @ 1/ 50
Conclusion: I would prefer if you try it by yourself and believe me E510 won’t let you down. At such a low price it is worth investing in this equipment. Built-In IS works on all the lenses that can be mounted onto it (I am from digital era- so I won’t question the working with OM Lenses).
In short - It is built to kill
