Over four years ago, Olympus introduced the Four Thirds system with the flagship E-1. In that time, it's released two models in each of two cheaper lines, the E-300, E-500 and their successors; but nothing to follow-up on the well received E-1 until now.
The $1,700 E-3 is larger than the cheaper, non-weather-sealed, Four Thirds cameras. It gains the advancements seen in the latest models like live-view and image stabilization. The spec is also bumped-up, with a maximum shutter speed of 1/8000s, and up to 18 raw images at 5fps.