Olympus seem to be spitting out new PEN models faster than a sausage machine so god knows how their product & project managers cope with endless change-? Panasonic too, have a fairly meteoric rate of upgrades to both G and GF cameras.
But when will there be a higher end micro four thirds camera from these two?
Olympus stole the limelight again with the faster((sub f2) fixed focal legnth lenses, then Panasonic came out with a super thin kit zoom, optimised for size and actuall HD video uptake.
Crystal Balling First over the Line
I would think Olympus will beat panny because they will coincide the launch of their pro "short" zoom, starting at 12mm and ending somewhere 40 to 60mm, f2.8-4 I dare say. They would then launch this with a pro level body if you ask me, and thus beat panasonics two "fast" 12-35 and 35-14x mm .
At this time then olympus will have the two fast primes, the walk around 14.150 and perhaps a fixed telefoto (200 f 2.8) : anyway we would expect them perhaps to make a grip extension body to be able to handle up to this size from the ZD shg range in full four thirds: remember compared to DSLR APSC and NEX lenses, these are still quite compact and fast enough for most anyone who doesn't want silicon wafer layer thin depth of field.
SO basically they will have all the lenses, and just need to decide to take on board all the e1, e3 and e5 users with a body which will take the big lenses of FT.
Form and Fucntion
In effect, if they choose this route, the camera will NOT be a PEN PRo but rather a camera between E620 and E5. THis will probably be about the size of the samsung NXs but with something special ergonomically, either out the box or with the "strap on" approach which has now reared is potentialy ugly head on the PEN EP3.
In fact though, if it is to be a pro level camera, with a value-added electronic view finder (EVF) I don't seen any need for it to be smaller than the current E520.
14 mpx -16 mpx
better Sensor with Extended Dynamic range
10 fps std. - 20 fps @10mpx
2 CF cards, 2 SD cards
Repixilated Monotone shots to 24mpx
Inbuilt iR laser range finding / focus alternative
Focal range lock, focal distance display, focal bracketing
Focal target selection OLED and EVF
OLED 1 mpx ( 960,000 dots) touch screen
In built blue tooth
Information rich, large EVF with extended functionality
In camera DR extended processing option
Curve adjustment in camera by touch dndrag
User definable programmed modes ( eg sports, bracketing etc)
Internet optimised blue tooth/3G/Wifi file transfer
RAW + thumbnail jpeg with option for "process jpeg on idle"
Battery life indicator (frames, minutes, %)
Option for powered zooms from on camera control
Light intensifying slow refresh live view and EVF for low light / night
14 mpx -16 mpx...perhaps with a G3 style extended aspect with target tracking on outside the frame
Instead of a high refresh rate which everyone really wants, what about a light collecting slow refresh allowing you to see a night or low light, or very high contrast scene to be able to compose the frame before you shoot.
That and instant monotone view for example, or as with the high contrast situation above, a composite shot refreshing to the extremes of the tonal curve thus fooling the eye with a hyper DR view to help compose long exposures with ND filters----for example!!
Infact you can go beyond the OVF, into showing detail the human eye can't capture TTL!!!
Also, as with sony, you can have an in EVF "spirit level" which would dfo help me anyway!
The grip extension: additional battery in built. An SSD drive with SATA cable. In build 3G and WiFi FTP, swing out side flash mount.