Both the Olympus and the Lumix are great cameras. After previously owning an Olympus, when it died I replaced it with the Lumix FT1 18mts ago & really glad I made that choice. The deciding factor for me is the Intellegent Auto function on the Lumix which automatically selects the correct shooting mode, allowing one hand operation from the yak. Also the Lumix is Japan made and seems a bit sturdier.
You can now get an FT2 - WP to 10m and with even more features.
