Just a heads up that Panasonic appear to have released a bunch of refurb GF5 + the std 14-42mm lens to various dealers, they are appearing on ebay for £150 with 12 month warranty. I picked one up to use while canoeing (in a waterproof bag), but have been impressed with the camera, and have purchased a couple of extra lenses. They can be used full auto with scene modes, or full manual, and anything between. They have limitations compared to the better 4/3 system cameras, but for £150 they do make a good pocket point and shoot, or something a bit better if needed. Main downs are no EVF and Panasonic put VR in the lens rather than body. The kit lens is pretty big, but the package becomes a lot smaller if a small prime or the compact x zoom is used.

Having had a quick play I am most impressed with the metering, VR, and the sharpness. Can shoot raw or jpg. Curretly toying with the idea of a retro manual fast prime, or possible a manual macro lens, would need an adapter to get that working.