Saw the EP-1 in action, which is priced at $799. The EP-2 fixes many of its problems (color saturation and tint, firmware), so Olympus thumbed its nose at the early adopters a bit.
Both these cameras are amazing at HD video, but if you're looking for a simple point and shoot, and have got money to spare, I'd suggest the G11 or S90 from Canon.
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