The Olympus E-500 EVOLT is functionally an E-300 in traditional SLR form. Even with the traditional viewfinder hump, rather than the flatter form of the E-300, the camera is exceptionally small (just bigger than Canon's EOS 350D) and a light 435g.
When the E-300 was released against the EOS 300D, both cameras were priced at the then record price-point of $1000 for the kit. A year later, and prices have come down, with the E-500 releasing for $150 less than the EOS 350D body at $700. The E-500 is quite capable, and best in this intro class. The Olympus, surprisingly, is still the only line with an anti-dust filter.