I guess I have been one of the few micro four thirds users who has used this system for a while as the main system. I knew what I was getting into even before I bought the first micro four thirds camera (Thanks to NC's year long review of the E-PL1). But, what has been amazing so far is the fact that it just keeps getting better. Like Manish said, I am not after High ISO performance and DR performance because they do not affect the kind of photographs I take as much. Having said that, OM-D has kicked some serious behind in a lot of tests. Again, I can't speak much of the OM-D as such as I have not used one for days together yet and all my knowledge is from various reports/tests by users across the world. That might change soon though

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One such "controversial test" thread is here:
http://www.fredmiranda.com/forum/topic/1131400I am not after a FF camera or an APS-C DSLR because they're just too heavy for me to carry around (yeah, my build says otherwise, don't get fooled by looks). I cannot imagine myself carrying a 50D with a 10-22 and 70-200 all day long. If I am out, the first thing on my mind is to enjoy the experience. And I'd prefer my equipment not getting in the way of that experience.
And I can go on about how people don't like micro four thirds because they have not used it and the biases they carry and all that, but frankly, I am tired of trying to get rid of wrong information that floats around the internet forums. So yeah, my advice to anyone looking at this system, get a camera, use it and then decide if you want stick to it or not. Personally, I couldn't be more happier that I made this choice. It's a good balance between small camera bodies and appropriately sized lenses. And the ability to mount almost any lens out there on these bodies is such an added bonus.
As far as the lenses go, here's my take:
(i) Panasonic 20mm f1.7: What can I say about this little gem? It's a pancake lens and quite small but don't let that fool you. It's quite a performer. This was the first lens that I got and I must admit I fell in love with it. I cannot quite put my hand about what I like about this lens. It's probably a good balance of all the factors that make a lens worth having. I have heard people say that AF is slow with this lens but I have not faced any problem whatsoever. Couple of my favorites from it:
Tree of Life by
Veeresh_ai, on Flickr
Inner Harbor, Baltimore, MD by
Veeresh_ai, on Flickr
I'll add my experiences about other lenses later.