I can’t believe I’m saying this – OM System’s new OM-3 is my dream retro camera, but I won’t be buying it

When I heard rumors down the grapevine of OM System releasing a new retro camera I was naturally excited. Many questions came to mind; will it be a successor to the cult-classic PEN-F? Will it be the upgrade that finally lays my decade-old Olympus EM-5 Mark II to rest?

Lo and behold, the new OM System OM-3 has just been unveiled and, on paper, it looks like it’s everything I could have wished for as a fan of this brand’s mirrorless cameras. I’m obviously a sucker for a retro look, but the OM-3 is also absolutely packed with the latest computational features and significantly better autofocus than my old body.

There is, however, one tiny problem – this gorgeous new camera comes in at such a pretty penny that I’m struggling to commit. Even as a die-hard with a soft spot for the perennial underdog OM System, I have to admit that this particular body is a hard sell for most people – including me.

A perfect match

On the surface, the OM System OM-3 is tailor-made for my uses. It is in all intents and purposes a modern take on the Olympus EM-5 Mark II – one of my favorite cameras ever. I know some will decry the brand’s decision to forsake the rangefinder style of the PEN-F for the SLR stylings of the original Olympus cameras but I think OM has hit the nail on the head here by leaning on its heritage.

Finally, the brand is producing small lightweight cameras with an all-metal casing again. I’ve tried to love the recent plastic-bodied EM-5 Mark III and the OM-5 and I just can’t. Call me shallow, but the plastic design – no matter how rugged – just doesn’t do it for me. There’s an undeniable weight and feel to the metal bodies that just massively adds to that tactile experience of shooting; which, to me, is the main reason for using a camera over a smartphone.

All of the above is why I’m a huge fan of the older EM-5 Mark II. It’s a tiny camera with undeniable charisma – charisma that’s so strong that I’m often willing to overlook its long list of shortcomings. If I could design a perfect everyday camera, it would be the EM-5 with modern autofocus and a better sensor. You know, something a lot like the OM System OM-3.

It’s all about economics

So, why am I not rushing to buy the OM-3? It’s simple – this camera just costs way too much. A starting price of $1999 / £1,699 is a hard sell; as much as it pains me to admit that as a massive advocate of Micro Four Thirds.

Don’t get me wrong, there’s plenty of cutting-edge tech under the hood here that somewhat justifies the asking price. The OM System OM-1 II is a computational marvel with its graduated live ND filter and AI-subject detection; and the OM-3 is bringing this tech to a lower price point alongside a gorgeous retro body. On paper, I can definitely see why OM System decided to price the OM-3 accordingly.

Where that argument falls down, however, is when you compare the OM-3 to offerings from other brands. The Fujifilm X100VI (when you can actually buy one) costs $1,599 while the X-T5 costs $1,699. Both of these feature a 40MP APS-C sensor, decent autofocus, and the much-hyped Fujifilm X-Processor 5 engine. Even the Nikon Zf, massive lenses and all, comes in at $1,999 for a viable full-frame alternative.

Personally, I don’t care that it’s 20MP or Micro Four Thirds – that’s enough for my needs. But at $2,000? That is a very big ask in such a competitive field.

Did it have to have a stacked sensor?

I know what you’re going to say – “but it has a stacked sensor!”. Yes, it’s true, the OM-3 is now technically the cheapest new camera on the market to feature a super-speedy stacked sensor. That’s what’s enabling the incredible 50fps Continuous-AF burst mode.

The issue, of course, is that stacked sensors are really pricey. The OM-3 is a camera tailor-made for travel, street, and everyday use – applications that I’d argue don’t tend to benefit much from hyper-fast readout speeds. Given the intended market, did the OM-3 even need that stacked sensor?

When you consider that the OM-5 comes in at half the price, I’m left wondering how much the OM-3 would be if it opted for the cheaper 20MP sensor. The stacked sensor here is obviously a ‘nice to have’ – but at $2,000? Again, that’s a lot for a camera that’s going to sit in my bag every day.

OM System, you can do it

I hate to criticize the OM-3, because let’s admit it, OM System is a company with an incredible heritage that’s offering something unique in the camera world. I strongly believe that the brand has something to offer; which is why I feel compelled to write this post in the first place.

The OM-3 is obviously a camera with a ton of promise, too. It’s a direct answer to the myriad calls over the past few years for a PEN-F successor. Based on how much that camera still fetches on the used market, there’s a strong indicator that there’s a decent market for the OM-3. Perhaps, like the PEN-F, this one is destined to become another cult classic.

If I recall correctly, however, the PEN-F was also steeply priced at launch. OM System seems dead-set on going for the higher-end premium crowd when Micro Four Thirds’ real strength lies in its incredible value proposition. Either way, I’ll absolutely be waiting for a strong discount before I consider picking up my dream everyday camera.

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