Olympus has launched the E-P3, its fifth generation Micro Four Thirds camera. The P3 features a familiar-looking PEN body and revised 12MP sensor but almost every other aspect of the camera has changed. The latest flagship PEN features what the company claims to be the world's fastest AF-S performance, as well as a 614,000 dot VGA-equivalent OLED touch-sensitive screen and built-in flash. In addition it can shoot 1080i60 HD movies in the AVCHD format. We've been using the E-P3 for a while now and have prepared a full preview with studio and real-world sample images.