PREORDERS:
Preorder the E-PL1 at amazon.com
E-PL1 advantages over E-P2:
- Dedicated REC button
- Magnified live view button
- Up to 14x magnification
- Lighter low-pass filter
- Built-in flash
E-P2 advantages over E-PL1:
- Two control dials
- More direct-access buttons (including ISO and white balance)
- Superior image stabilization system
- AE/AF lock button
- Orientation sensor
- Larger LCD
- More substantial construction
- 1/180 sec flash sync speed (rather than 1/160)
- Maximum shutter speed of 1/4000 sec (rather than 1/2000)
- Virtual level display
- Built-in stereo mics/speakers
- Optional wireless remote
source: http://www.dpreview.com/previews/olympusepl1/page3.asp