Allison,

I know all the pros use huge rigs like Nikon D200's, but I am with you, if I can get equal optical quality, the smaller, the better, and if that Olympus does what it claims, that might fit the bill, IF Ike makes a matching compact housing.

Can you explain for what the live view thing is in comparison to just looking at the lcd preview screen on the rear?

I also noticed an Oly E-500.