Phil-
I am NOT suggesting that the e-620 is in the same level of my D-300 and thousand dollar lenses, both macro and wide-angle. None of these cameras discussed here are even close.
I guess where we disagree is in the capabilities of the 14/42 versus the 14/54 lenses and the ability to use a viewfinder for macro shots.
What I am saying is that the 14/54 lens is one of the two best general purpose lenses out there for both macro and wide-angle. (The other is the Sigma 17/70). The 14/54 will focus very close to the subject and produce a macro @ 2.3:1 while also providing a decen wide-angle shot.
What that means is that a single lens and port will serve photographers very well that are moving up from a P&S. Changing lenses and port combinations is something that is a steep learning curve. The average diver dives once or twice a year and really doesen't get the experience to properly manage multiple configurations. Yes, all those extra lenses are very nice but most photographers should try to master a single lens/port configuration before they try another.
The Olympus E-620 port system is unique because the large flat port allows a full view at 14mm whereas most flat ports do not. You can't get this configuration from Ikelite and almost all housing manufacturers. That forces the photographer into a dome which is more expensive, harder to bouyancy balance, and much easier to scratch.
Another thing that I believe you are overlooking. To shoot macro you really need a viewfinder. Macro is all about getting the critter in the proper position and having the eye tack sharp. You need the focus rectangle exactly on the eye of the critter or whatever part of it you want to highlight. This is very hard to do with liveview, even instant live-view. Yes, if all a photographer wants is fish-Id shots, live view is good enough.
So, lets look at the numbers.
1-A epl and Olympus housing with 14/42 lens and port $1500.
2-An E-620, olympus port and housing and 14/54 $2500.
Ov course, you'll need a pair of strobes (to shoot wide-angle) and a tray and arms so add $1200-$2000 in both cases.
Now everybody who shoots macro with a 14/54 has a wet macro lens or two $200-$600 and that still doesn't get them to the 14/54's capabilities and they are forced to shoot with the razor thin DOF inherent in diopters. Phil, do you really think a diver moving up from a P&S who dives twice a year can get very many good macro shots shooting a 14/42 and a wet lens.......through live view????
So yes, the Olympus dSLR line is a dead end. Yes, the mirrorless cameras have the same sensor and specs and appear to be smaller and cheaper. However, it is my contention that a diver moving up from a P&S will get better pictures with an E-620 rig and not spend a lot more money.
My wife, Ginnie, is a twice a year diver and is not as focused on underwater photography. Her shots in 2011 are typical of what a diver moving up to an E-620 will take in a couple of years. Her shots: http://www.tomandginnie.com/Wakatobi-It...he%20Reefs.html
Regards,
Tom
PS: I am a macro shooter. To see what macro can be look here: http://www.tomandginnie.com/Wakatobi_in_Super_macro.html