Olympus just took the wraps off its new $600 E-PL1 micro four thirds camera the other day and your main question is still probably what’s the difference between the new model and the previously-announced E-P2. At least that was our primary question. There is a $500 price difference after all. So here you go, the main differences.

4/3rumours,

E-PL1 advantages over E-P2:

• Dedicated REC button
• Magnified live view button
• Up to 14x magnification
• Lighter low-pass filter
• Built-in flash

E-P2 advantages over E-PL1:

• Two control dials
• More direct-access buttons (including ISO and white balance)
• Superior image stabilization system
• AE/AF lock button
• Orientation sensor
• Larger LCD
• More substantial construction
• 1/180 sec flash sync speed (rather than 1/160)
• Maximum shutter speed of 1/4000 sec (rather than 1/2000)
• Virtual level display
• Built-in stereo mics/speakers
• Optional wireless remote

So yeah, the E-P2 is of course a better camera, but the E-Pl1 doesn’t really seem half bad considering it’s nearly half the price.