Not much has changed, and the body, sensor and screen are all exactly the same as before. The main innovation is the arrival of the adjustable electronic viewfinder, much vaunted by Olympus and capable of focusing using any lens; the E-P1's optical viewfinder was stuck at 17 mm.
The body of the E-P2 is almost exactly the same as the E-P1. The only difference is that the top is a little higher, leaving room for et excellent viewfinder (see inset). We weren't surprised to find that it felt the same and that the same things stood out. It's clearly been carefully built, handles well, is compact and has an excellent scroll wheel and options dial. Less impressive are the location of the strap, the 230 000 pixel LCD screen and the never-ending menus with confusing options.
Olympus claims to have improved the responsiveness of its camera, and while we don't like to be contrary, we simply couldn't see any improvement at all in this area. There's just no comparison with SLRs, which remain unbeaten, especially for moving subjects. That's true when using the viewfinder at least: live view on the screen is often another story ...
But whether you use the 17 mm lens or the 14-42 lens, the E-P2 is noticeably faster than your average compact. Its autofocus is up there with the very best of them--except, perhaps, its cousins from Panasonic, like the GF1, which is just a tiny bit speedier.
The difference in performance is even more pronounced with video: Panasonic's micro 4/3 cameras spot a subject and don't let go, immediately correcting any loss of focus, but Olympus' really struggle. They try focusing near, then far and often find the subject before losing it again. That said, the E-P2 can easily beat SLRs with a video mode, because the few that have a continuous autofocus mode are nothing short of dreadful in this area.
Once again, we're familiar with the Pen E-P2's performance from our experience with its predecessor. Indeed, everything seems to point to them being identical internally.
We could almost lay this ISO test chart on top of the E-P1's and you wouldn't be able to see the difference. The automatic white balancing produces warm tones (which is normal given the incandescent light in our studio); noise is kept under control up to 800 ISO and the quality drops off rapidly at 3200 ISO. Like its cousins, this micro four-thirds camera can't quite keep up with an SLR, but easily beats any compact we've seen.
The stabilisation is the same as that on the E-P1: our test portrait shot was sharp at 1/12 s, which is good for a camera with a large sensor but less impressive then the performances managed by some of the latest compacts or Panasonic's micro 4/3 cameras.
The E-P2 uses the same video mode as the E-P1, and the 720p HD video is clear and attractive. Unfortunately, the weakness of the continuous autofocus system counts against it. And if you want decent sound, you need to use an accessory that connects a mic to the hot shoe--meaning you can't use the viewfinder or the flash. If video is an important aspect for you, then there's another member of the 4/3 family that will suit you better: the Panasonic GF1. It doesn't produce incredible video, but its continuous autofocus is much more effective.