E5 and D700--subjective comparison
Subjective comparison, that's what it should have been called from the beginning: as the time , resources and willingness needed for an objective scientfic "test" were never at my disposal nor in my plans.
I am not a pro, barely an enthusiast. I have been looking for a "system" (camera + lens, preferably one main lens) to serve my hobbyist needs for some years. I went through early Canon Rebels, Leica and primes, Canon FF (5D and 5Dm2), micro 4/3, Nikon FF (D700) and now finally Olympus E5 and Zuiko glass. I did not like early rebel digital quality, Leica prime hassle and price, Canon focus, micro 4/3 flimsiness and Nikon color.
I liked all those systems for their many merits and the Nikon D700 has been for sure the best overall camera I have ever used. If my living depended on photography that would be the system for an exclusive use. That's what the pros use after all for a reason.
I was also intent on minimizing my lens line, hopefully to one walkabout universal zoom and 1-2 fast primes. When E5 appeared it was the only contender in sight for my D700 and the new 24-120VR .
I have used the E5 for barely a week now. And after the week here is an enthusiast's verdict: D700 or E5?
And the answer is....
E5.
BODY.
I have both systems in front of me.
Both look very good with their 24-120 (12-60) zooms.
D700 is bigger and more "heavy" looking. Especially the VR glass adds heft.
I take them in my right hand (I am an average 5'11''/180cm male). Yes, the Nikon is "ever so slightly" too big. Some 20%. In fact that 20% matters a lot when you walk the whole day with the camera in you right hand (the way I like is with the strap around the foreram, so even when I let the grip go the camera hangs there safely). For big guys the difference is negligible, for smaller individuals --not so. The E5 simply feels better in my hand for hours on and on.
I take the cameras to my eye. Nikon has a bigger VF and can be turned on one hand with the index finger (in fact it does not matter as I leave both cameras on at all times). It has additional dedicated controls for exposure pattern and AF. The Olympus has a great articulating LCD with actually useful and usable one-button live view. The Nikon LV is a joke by comparison. I never liked it and rarely used. I like the good LV and the articulating LCD a lot. All other than above aspects of ergonomics are a wash for me. Overall , for an enthusiast, slight advantage Olympus.
LENS
I knew there is something about Zuiko when I put my 50/2 macro onto GH1 an saw the best picture pixel-for-pixel overall from any glass, Leica non-excluded. That from a 400$ small and light prime.
What I was not ready for, is that the level of performance can be maintained from HG grade (semi-pro, SHG is "pro") Zuiko ZOOM lens. The 1000$ 12-60mm/f2.8-4 Zuiko is the most amazing piece of glass I have ever owned. Small and light (580g) for it's features, it matches my best primes so far at all f-stops and f-lengths (except of course it's slower than Hexanon 60/1.2 or Summilux 35/1.4). Surprisingly enough it matches in IQ the dedicated 4/3 primes such as zuiko 50/2 or summilux D 25/1.4. Not only in resolution but also all other aspects of picture quality.
The 24/f1.4 on D700 is also amazing. The best piece of fast/wide prime glass ever mounted on best FF sensor for truly clean high ISO photography. In my tests that combo reaches 2300lw/ph, and the 6400ISO still has nice photo grain to it. Unbeatable. I was hoping the new 24-120/4 VR will be the main walkabout lens and the 24mm the choice prime to constitute the whole system. The 24-120VR is a very good lens, definitely better than the old non-VR one and in some opinions matching the f2.8 line of zooms.
But Zuiko is overall better. More uniform performance across the frame, smaller, no annoying (to me) VR sound. (E5 is overall quieter than D700).
I tried the 25/1.4 summilux D as the low light prime for my E5. It is 2 stops gain allright. But is it really worth the hassle? The AOV is somewhat too narrow for my liking and the 12mm at f2.8 really meets most of my needs when in 1600 ISO. Of course it's good to have this Lux in reserve.
The best combination would be one D700+24/1.4 and one E5+12-60.
If I was to choose one combo, it's Olympus again.
SYSTEM
The Nikon AF might have an edge for fast moving subjects (sports pro reporting). Maybe also at very low light levels, but a serious test is needed here. For me Oly AF is suffciently good for my needs.
I don't like Nikon picture, especially jpegs, and I like what comes directly from Olympus, whether raws or jpegs.
I am fairly proficient at LR, but don't enjoy postproduction.
With Nikons it's always a lot of post to get what I like. JPEGs are hopeless, corrections of raws first, then NIK output Sharpener at the end. All the work in front of the computer (my family hate me too for that) I do not enjoy at all.
When I saw JPEGs from EP1 some time ago I just loved them. Same with E5 now with one additional remark. The raws (ORFs) and JPEGs ar so sharp I need no NIK sharpener any more. This is really amazing, but the E5 pics are almost too sharp for my EIZO ColorEdge 1920x1200, 24 inch monitor. The pixel pitch on it is too big for them and single pixels are outlined and visible when you look close at 100%! Only on the main monitor, Apple iMac 27 inch the pixels disappear at 100% as the monitor resolution is bigger than EIZO's and the pixel pitch is smaller.
I have never seen anything like that before at the pixel level. So the "pixel sharpness" exists after all...?
In fact, I do not care so much for pixel peeping, 100% and such.
When in web/email mode my pix are 1280 wide for compatibility.
When displaying they are 1920x1080 in HD projection.
When printing at A3+, any such digital particularities like pixel sharpness or noise are very well levelled off.
CONCLUSION
I am an enthusiast, not a pro, and enjoy travel with my camera (also in rain, fog, wind) much more than sitting in front of the computer.
I also dislike changing lenses and too much work on focus, exposition etc.
I am a lazy amateur that likes his camera handy and pictures to look good
(to family and friends).
I like to send the pics from my laptop from my trips.
I like my equipment dependable and solid.
I am not a night predator.
I like to be slightly different.
I like Olympus E5.